The Brexit Divorce Bill…
Economists this morning woke to the pound having risen 0.33 percent to 1.1308 against the Euro. This peak comes as Theresa May agreed to pay around £50billion Brexit Divorce Bill and is the highest that the pound has risen in two-months. Investors across the country are celebrating as this peak suggests that the pound finally gains more value and reflects an increase in the UK’s economic confidence.
Why Has this Happened?
Theresa May’s elaborate offer is a bid to move negotiations forward and start focusing on a future trade deal, European sources have said. This newest development suggests that negotiations between the U.K. and the EU are making headway. An outline deal on the divorce bill that Britain is obliged to pay when it leaves Europe clears a huge obstacle for the U.K government, leaving the issue of the Irish border as the last major hurdle in beginning trade negotiations.
What does this mean?
For U.K. property buyers in Austria this spike in value means that the GDP is stronger against the Euro than it has been in two months. Now is a brilliant time to invest in international property as recent events show a peak in confidence in the pound. The British Pound slowly rising is welcome news to economic forecasters just before Christmas – perhaps you’ll get that Austrian Chalet in your stocking after all!
To find out more about buying property in Austria post-Brexit, read our FAQ Brexit Page.
If you’re after more currency advice then don’t hesitate to contact our friends at HiFX HERE
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