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Currency News - What can we expect in January from Brexit?

January 7, 2019

It's come as no surprise to see the GBP weaken against every other currency due to the uncertainty around Brexit at the moment. For months now the debates have continued causing the currency rates to be extremely volatile. 

 

 Photo Credit - Chris Lawton

 

Many of you are getting in contact with us and questioning how Brexit will affect your wedding. My advice would be to secure you rate now for up to 12 months if you are planning to have your destination wedding within the year. We offer a book a forward tool which allows you to do exactly this, you only pay a 10% deposit and the rest when the money is due to be sent to your chosen supplier. By doing this, you. minimise a whole lot of risk by locking in your exchange rate to pay for your wedding.

 

The Observer released a report explaining that the ministers are trying to delay the Brexit deal to March in order to prevent a no-deal result. Should a no-deal come about this will be detrimental to our currency market as we know it with the pound losing strength even further, along with the economy as we know it.

 

I know a lot of couples are holding off from getting married overseas until after the Brexit deal has blown over. Please rest assured that the results of the Brexit will in no-way affect any laws around you getting married overseas, or be hugely detrimental to your wedding budget. You can currently get married in many countries around the world that are not part of the EU. It will be exactly the same once we come out of the EU and you will still be able to choose these locations for your destination wedding. 

 

Over the course of last week, the US dollar has become increasingly weak with political uncertainties in the country causing this. Good news for anyone getting married in the UK choosing to take their honeymoon in the USA. It's also great to take advantage of the GBP-USD rate if you are planning to elope in the USA (perhaps Las Vegas?) or planning a larger wedding in America. 

 

If you are thinking of getting married overseas and looking for expert advice regarding currency markets and sending money abroad. Do drop us an email hello@weddingforex.com. We are more than happy to give you the best guidance we can and updated news around these areas.

 

 

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