Pound could strengthen in coming months, says currency expert
20/08/09 10:00
It is likely the pound will perform increasingly well against other currencies in the coming months, a financial expert has said.
According to Marc Cogliatti, a currency strategist at exchange specialist HiFX, the pound should "appreciate against the vast majority of its counterparts".
A stronger pound is good news for those who are considering a move to an expatriate life as it makes foreign purchases and investment cheaper.
Mr Cogliatti noted that his opinion is one based on the UK being well prepared for the end of recession.
HiFX recently reported on the effect volatile currency markets are having on British expatriates.
The most unpredictable currency in terms of fluctuating prices in June was the Canadian dollar, throughout the month £1 was worth anywhere between $1.76 and $1.92.
Commenting on the wildly fluctuating markets, Mark Bodega, the company's director advised: "Anyone transferring large amounts of money abroad, such as people emigrating, need to ensure they seek proper advice when transferring their assets abroad."
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