{"id":177,"date":"2017-05-15T14:00:17","date_gmt":"2017-05-15T13:00:17","guid":{"rendered":"http:\/\/www.redstarwealth.co.uk\/blog\/?p=177"},"modified":"2017-08-14T09:31:15","modified_gmt":"2017-08-14T08:31:15","slug":"should-you-buy-your-holiday-money-before-ge2017","status":"publish","type":"post","link":"https:\/\/www.redstarwealth.co.uk\/blog\/should-you-buy-your-holiday-money-before-ge2017\/","title":{"rendered":"Should you buy your holiday money before #GE2017?"},"content":{"rendered":"

Currency and the purchase of your holiday money isn\u2019t an area we provide regulated advice in but not surprisingly for all things financial, we do get asked when a good time to buy holiday money is when the country is preparing for potential changes in our exchange rate \u2013 like the General Election on June 8<\/span>th<\/span><\/sup>.<\/span><\/span><\/p>\n

So, if you have a holiday booked this year do you, or don\u2019t you, buy your travel cash before the election?<\/span><\/span><\/p>\n

The pound is still gloomy. Even after a slight bounce on the back of the election announcement, it will still only buy 1.19 euro or 1.30 US Dollar (as at 10\/5\/17) \u2013 it would buy $1.48 in June 2016!<\/span><\/span><\/p>\n

But whilst you are dreaming of cocktails on the beach and want the best for your hard earned and long saved spending money, remember that currency moves are complex and whilst the election will provide more uncertainty, the exchange rate you get doesn\u2019t only depend on what happens in the UK with Sterling.<\/span><\/span><\/p>\n

Many factors affect\u00a0currency movements and while an election brings uncertainty, that uncertainty is known and tends to be incorporated into the current price of the pound.<\/span><\/span><\/p>\n

The truth is no-one really knows what will happen to the price of Sterling before or after the election and there will be as many people saying \u201cbuy now\u201d as there are saying \u201cwait till after the election\u201d. In my opinion, I think that if you feel that 1.19 euro is a fair price buy your spending money now. You could hedge your bets and buy half now and half after the election (depending on when your holiday is of course) but with no real way of knowing what is going to happen. The most important thing is whenever you do decide to buy, put the fluctuations in the price of Sterling out of your mind, order a refreshing drink and soak up the rays!<\/span><\/span><\/p>\n

Have a great a holiday!<\/span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Currency and the purchase of your holiday money isn\u2019t an area we provide regulated advice in but not surprisingly for all things financial, we do get asked when a good time to buy holiday money is when the country is preparing for potential changes in our exchange rate \u2013 like the General Election on June […]<\/p>\n","protected":false},"author":1,"featured_media":178,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mi_skip_tracking":false,"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false},"categories":[1],"tags":[],"yoast_head":"\nShould you buy your holiday money before the election? | Red Star Wealth<\/title>\n<meta name=\"description\" content=\"Should you buy your holiday money before a major event such as a general election? 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