Currency Exchange Update

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The GBP/USD rate has been on a slippery slope with soaring inflation and is approximately 100 pips away from breaking the pandemic volatility low back in March 2020. If we slip to 1.1409, we may be trekking into territory not seen since March 1985. Political uncertainty with a new Prime Minister in the UK, coupled with a strong US Dollar, is hurting the British Pound.

Thinking of selling your US property? 300,000 USD would get you 260,869 GBP at the moment. Just a month ago, 300,000 USD would have achieved 247,933 GBP.

Over the past few months many vacation home owners from the UK are taking full advantage of selling their vacation home, in what is turning out to be the very top of the market, selling their investment for a premium before the inevitable correction in the market. On top of that home sellers are exchanging their USD into GBP at a very favorable rate, to achieve a great ROI. 

To read more about September FX Forecast, please CLICK HERE

Monthly Update Courtesy of : Iva Slavtcheva at Moneycorp Orlando.

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