Transferring your money from America - USD/EUR Currency Update – General Chit Chat & Conversations – Expats Portugal Community Forum
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Transferring your money from America - USD/EUR Currency Update

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Posts: 12
Community Member
Topic starter
(@sarah_davie_spartan_fx)
Member
Joined: 2 years ago

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

3 Replies
Posts: 690
Admin
(@jonesdn2020)
Illustrious Member
Joined: 1 year ago

Thank you.

Is there an alternative to doing a International Wire transfer from our US bank to our Spartan FX account?

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2 Replies
Community Member
(@sarah_davie_spartan_fx)
Joined: 2 years ago

Member
Posts: 12

@jonesdn2020 Hi, thank you for your message. Where are you based? It also depends on who you bank with. Some customers have had issues making international and domestic transfers, it depends on who you bank with. Happy to have a chat. You can call us on +44(0)203 984 0450 or send an email to expatsportugal@spartanfx.co.uk, and we can schedule a call or a WhatsApp call.

Sarah  

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Admin
(@jonesdn2020)
Joined: 1 year ago

Illustrious Member
Posts: 690

tp@sarah_davie_spartan_fx 

Hi Sarah,

We are in Lisbon now. We have done a couple of wire transfers from our USAA bank in the US to our Spartan FX account. Then Ben forwarded euros to our Millennium account here in Portugal. We also have accounts with Bread Financial in the US. It takes almost 30 minutes to get through to our USAA bank wire transfer folks and initiate the transfer.

I need to look into the options with Bread. We normally just used them for Certificates of Deposit but they have all termed and we are just holding money in their HYSA since it is earning 2.15% currently.  We are waiting for the next couple of Fed rate hikes before we get back into their CDs.

Kind Regards,

Trevor Jones  

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