Currency Market Update – 27th March 2020

If you are anything like me, you are probably still reeling from the effects that Covid-19 is having on the world. It is naturally the only thing people are talking about at the moment. Sport, usually so important to so many, has taken a back seat. No more chat about who’s going to win the league, the next Formula One race or The Masters golf tournament usually held in April. And Brexit too. Who would have thought that we would actually miss Brexit after how long it took to finally get to some sort of result? I would take hours of Brexit negotiation talks over this virus at the moment!

Such huge swings in the market can be your friend or your foe as we mentioned in the last email that we sent out. For some, the virus will lead to personal or business financial losses and others it may just make their year. The one major thing to remember however, is that this is not over yet. The swings of volatility will continue to occur in the coming weeks. And that means that whilst your house purchase or sale overseas may be on hold or your flights to a new dream life in another part of the world have been cancelled, you still need to think about the cost implications of rate movements and how your situation could be affected.

Understandably, some of you will probably see this as an opportunity, a time to maybe roll the dice so to speak and hope your numbers come up. However, given the shear violence with which the markets are moving at the moment, we would not recommend it.

We cannot control the virus, however, we can control what you end up with in your pocket. Securing a rate of exchange is the one thing that will provide you with peace of mind, and it will be one less thing to worry about whilst this situation plays out.

We are operating a “business as usual” approach and will continue to support our clients and the transactions they need to carry out in the coming months. If you want to discuss your requirements please get in contact via james@satfx.co.uk or via https://satfx.co.uk/index.php/contact/
The team here is ready to help, and we are also ready to listen if things are difficult at the moment! Another voice might just be what you need, so call us for a chat!

Our message to you at this time is to stay safe, isolate yourself as much as possible and hope that things return to a more settled state in the not too distant future.
We look forward to hearing from you.
Keep well,
The SATFX Team