Wednesday, February 05, 2014

Good News For UK Expats Moving Abroad As Sterling Continues To Strengthen

Simon Hilton
by Simon Hilton, senior foreign exchange consultant at World First and official Expat Focus foreign exchange partner

When a new year arrives, it can be tempting to set ourselves goals that we want to achieve in the coming 12 months. These could range from small things like keeping fit, learning a language or eating more healthily, to big ambitions like moving abroad, buying a house or getting a job overseas.

For those with such goals in mind, or people already living or working abroad, the exchange rate is all important, as it determines how far their money will go when buying a property or sending money home, for example.

Well, we’re now more than a month into the new year, and if you’re still standing by your resolution to move abroad, now may just be the perfect time to do it. Your pounds will now go further than they have done for a long time, and you’ll get more for your money.

The recent strength of sterling has coincided with an improvement in the performance of the UK economy over the last few months, and a stream of favourable news coming out of the UK. We found out a few weeks ago that UK unemployment had fallen to 7.1% in December, and it’s data such as this that has helped sterling to its current high level and enables expats looking to buy overseas to get a better property than they would have done, say, just a year ago...

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