And here we are - this week’s currency news courtesy of our partners Lumon. And as it might well be a good time to move money around, don’t forget you can do so quickly and easily using the CURRENCY tab at the top of the page!
KEY NEWS
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Pound to Euro at 2½-Year High *
Weak Eurozone PMI data has pushed the euro lower.
GBP/EUR is resting at its highest levels since April 2022.
Buyers ‘budgets’ have gone up 4% since August. This is helpful if you’re buying now, or planning a viewing trip in the near future; meaning your search budget can possibly increase too. For example, if you have a UK budget of £500k, you now get €20 000 more compared to back in August this summer.
Euro to US Dollar at a 2-Year Low
The euro’s decline has pushed USD / EUR up 7.5% since October.
Right now USD-based buyers are in a really strong position when buying in France; an €800k property is now nearly $60k cheaper than 50 days ago.
As a reminder, Lumon are a property savvy currency brokerage offering a number of tools including forward contracts which are effectively ‘buy now, pay later’ options. This means clients can lock in rates even before finding a property or when funds aren’t yet available.
I hope this is useful and have a lovely weekend everyone!