For those of you who haven’t been watching the news recently, it has been just over a month since Britain voted to leave the EU, and whilst their market indexes may have hailed a recovery, the Pound Sterling has certainly not. Leading spread betting company IG and major news outlets from around the world have attributed this to a sense of high anxiety about the future of Britain, but regardless of the triggers behind it, it is a great opportunity for everyone else to generate some nice income on the side.
A month ago, the dollar to pound exchange rate was around 1.49 and now it is languishing at 1.31, meaning for every $1000 exchanged – there is an additional £90 we gain! While some of you may have already spotted the potential here, we thought we’d offer a few of our own ideas to help you get started on benefitting from the fallen pound.
While England’s currency may have lost some of its’ allure, its’ tourist attractions certainly haven’t. Combining their Summer sales with the cheaper exchange rate means that you can grab yourself a bargain or two from Saville Row’ suits to luxury Scottish Whiskies. Even Republican-nominee Donald Trump was exuberant about the potential to attract more visitors to his golf course – “If the pound goes down, more people will come to Turnberry.”
If you were looking to travel to Britain for either a holiday or as a stop-off to Europe, it may be lucrative to look at stopping-off for a day or so. Not only can you benefit from the shopping experiences as aforementioned, but buying your continuing flight or return flight in GBP can save you a small bundle!
The housing market is set to slide up to 10% if you believe the media hype around Brexit and London is set to become the biggest casualty of all. While it is almost certain to recover once new trade agreements have been signed post-Article 50 being triggered and businesses have committed to staying in the capital, this is a great opportunity for investors to pick up some prime real estate in London now for £10,000’s off the price tag, courtesy of market panic and the strong exchange rate.
Currency and Commodity Markets
If you have never tried trading or spread betting, we would recommend reading up on it, as those of you who aren’t overly averse to risk, have the potential to make a fortune in short-term and long-term bets. With the Pound sliding against the dollar and gold seemingly climbing to new heights as investors look for more security, now is the best time to check it out.
While there are certainly plenty more prospects to be had, it should be clear to most that the fallen pound is rife with opportunity. Whether you are an American citizen or just have the good fortune of having a lot of US Dollars in your pocket, be sure to review some of the options we mentioned above, as they won’t be around forever. For more insight into the market and other ways you can save money on your everyday expenses, check back regularly for new blog posts and tips to help you make the most with what you have.