Currency Exchange Remains A Key Factor For Many Expats With Uk Pensions And Qrops.

Currency Exchange Remains A Key Factor For Many Expats With Uk Pensions And Qrops.

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Continuing our daily look at factors affecting currencies allows some insight into market conditions affecting exchange rates. Cash and income timing for UK Pensions and QROPS should be considered to maximise the Pension, QROPS and investment income and benefits taken.
Sterling was again under pressure yesterday on the back of speculation about a hung parliament after last weeks televised political debate between the leading three parties brought a previously unconsidered contender to the forefront of the public eye.
The debate on ITV last Thursday was expected to be a typical heated discussion between the
Conservative and Labour parties, however Nick Clegg, leader of the Liberal Democrats wasnt just there to make up the numbers.
In a well rehearsed attack on both Prime Minister Gordon Brown and Leader of the Opposition, David Cameron, Clegg showed a different side of politics that appealed to the viewers and has seen the Lib Dems move to the number one position in the opinion polls.
Market traders had began to take less notice of the opinion polls over recent weeks, ironically since the official date for the election was announced; it has taken a back seat to news about Greece and UK data announcements.
However, now a three horse race, the chances of hung parliament have increased and the markets have started to talk about it again.
Investors if asked to choose, appear to be swaying slightly towards a Conservative win on May 6th but arent especially concerned who wins, provided one party on the morning after polling day emerges with a clear majority.
A coalition government would be negative for sterling on the view that such a scenario may make it difficult to pass laws to cut Britain's hefty deficits.

By 12.30pm the pound had fallen to $1.5198 against the US dollar, its weakest in nearly two weeks, falling below its 50 day moving average at $1.5265, leaving the 21-day moving average of $1.5199.

However, despite risky currencies such as the pound being sold off as fears grew about broader fallout from charges against Goldman Sachs Group Inc, the resilient pound traded well in the afternoon, trimming loses to finish 0.3% up on the day at just under 1.53 at 5.00pm.

The story was similar against the euro, initially falling to a session low of 1.1311 before hitting a day high of 1.1376 at 4.30pm.
The euro fell against the dollar for a third day down to $1.3418 on speculation debt-strapped Greece may need more than the European Union pledged last week.

Bundesbank President Axel Weber told German lawmakers that Greece may need more assistance than the 30bn promised by the European Union as the government in Athens struggles to push through planned spending cuts. Talks on Greece involving the European Commission, the IMF and the European Central Bank were delayed until April 21st from yesterday because of the Icelandic volcanic ash cloud air travel disruption.

In the UK this week, analysts will be watching a barrage of economic data with the highlight being the release of preliminary GDP data for the 1st quarter 2010. 2009 4th quarter figures showed a rise indicating the end of the recession, but focus will be whether that rise continues or if we see a double dip recession feared by many.

Today sees inflation data released, unemployment figures are released on Wednesday whilst government borrowing and retail sales are published on Thursday.
The second of the three televised debates will air on Thursday
Gerard Associates Ltd advises expats and people considering living abroad on the options available for Pensions, QROPS and investments in a clear format allowing all customers to make an informed choice. This with the reassurance of UK authorised and regulated advice.


About the Author:
Maria Smith is an associated editor to the website www.gerardassociates.co.uk .She is writing on HMRC QROPS, QROPS Pensions,qualifying recognised overseas pension, hmrc qrops,qrops advice.The QROPS listed above can help you to avoid the most common reservations in UK Pension planning.



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