Brexit discussions remain shrouded in uncertainty yet negotiations are already sparking tangible impacts on the pound, passports and holidaymakers plumping for their vacation destination. While UK Prime Minister Theresa May continues to attempt to thrash out a Brexit deal with European Commission president Jean-Claude Juncker, the pound is finishing the week on a “strong” note. Yet those Britons booking trips overseas have been revealed to have shunned Europe for other destinations, amid the uncertainty. There has been a two per cent drop on holidaymakers selecting destinations in Europe for their well-earned getaways.
While the potential for a Brexit no deal scenario has already seen the pound to euro exchange rate plummet, finance experts have suggested this might not be the case in one instance.
Regardless of whether a deal is secured or not, Ian Strafford-Taylor, CEO of currency expert, FairFX has told how it will likely not impact monetary transfers between the UK and EU.
When quizzed about how Brexit will impact individuals transferring money to Europe, he said the results may, thankfully, be negligible.
He told Express.co.uk: “As it stands, Brexit shouldn’t directly impact you if you’re sending funds to Europe.”
Those transferring money to EU member states could be doing so for business reasons, or because they have now relocated to Europe as an expat.
Brexit news: Finance experts have discussed the impact on money
