The pound has begun to recover slightly after recently touching its lowest levels against the euro in nearly two and a half years. We’ve also seen modest gains against the US dollar.
Latest market insights:
- While last week’s UK Budget wasn’t widely viewed as positive, it did bring a degree of stability. That sense of certainty has offered some support to the Pound.
- Looking ahead, attention shifts to the United States on Wednesday as the Federal Reserve announces its latest interest rate decision. Markets are expecting a 0.25% rate cut in the evening.
- Even with this expected cut, the Fed is likely to signal a pause on further interest rate changes for now, as they assess how the economy responds.
Thinking about tax or inheritance planning?
If you’re moving money internationally for a property purchase, gifting funds or managing inheritance arrangements, tax rules can affect your plans. We’ve put together a simple guide to help you understand the key considerations and what to look out for.
If you’re planning to send money abroad and want to understand more about how news from around the world could impact your budget, contact Lumon on +44 (0)204 506 5672 for a free, no-obligation conversation and discover what options you have available to help.
