Transferring your money from America - USD/EUR Currency Update

Hi All,

Good news - it's still the best time to buy Euros in 20 years.

The US Dollar weakened recently on the back of comments from the FED chair Jerome Powell. He expects energy prices to come down naturally. This would slow inflation and reduce the need for the aggressive rate hikes already priced in. While we have dropped from the peak seen in July, we are still trading at levels last seen in 2002!

The central bank is still struggling to curb inflation, but the threat of a US recession is putting pressure on the Federal Reserve to winddown its hiking cycle. Speculation for a looming shift in monetary policy may fuel a larger shift in the exchange rate as the central bank aims to achieve a ‘soft landing’ for the US economy.

What could cause the US Dollar to weaken?

1. The US going into recession in Q4 of this year.
2. The Eurozone going into recession at the same time.
3. Any change to the war between Russia and Ukraine. A ceasefire would take pressure off the global supply chain.

The timing of your exchanges is key

What are your options?

1. Spartan FX can monitor the exchange rate for you.
2. You can buy your Euros in advance. Spartan FX can hold them on account FREE of charge.
3. You can fix the exchange rate of your property purchase with a 10% deposit. The remaining 90% is paid on completion when the money is due.

 Speak to an expert now at Spartan FX. Let us help you to manage your international payments.

Call: +44(0)203 984 0450
Email: expatsportugal@spartanfx.co.uk

Enquiry form:  https://www.spartanfx.co.uk/partner-ep.php

Sarah from Spartan FX