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Preparing for Brexit and residency in PortugalThe proposed Brexit transition period – delaying its full impact until the end of 2020 – potentially gives British expatriates and those wishing to move to Portugal more time to prepare. While this is welcome, this should not be a reason to delay taking action to secure your future here. The clock is still ticking to get ready in time, particularly where paperwork is involved.

The key issue for many people is residence - if you are already living here, will there be any problems with you staying after Brexit? If you are still arranging moving to Portugal, how can you secure residency in time?

Currencies Direct

The pound suffered a further sell-off on Thursday as some disappointing retail sales figures dampened the case for the Bank of England to raise interest rates next month.
Sterling continues to face headwinds this morning, with GBP/EUR muted at €1.1172, GBP/USD flat at $1.3001 and GBP/CAD subdued at C$1.7246, while GBP/AUD and GBP/NZD edge down to AU$1.7669 and NZ$1.9268 respectively.
Looking ahead, the GBP exchange rate may continue to slide today should the UK’s public deficit have continued to swell in June, as is forecast.

alThose involved in running Alojamento Local properties to serve the booming tourism market can expect more involvement from their local Council and interference from their neighbours.

After months of discussion, MPs voted on July 17th, on a raft of Alojamento Local (AL) changes, with the Communist Party and Left Bloc voting with the ruling Socialists to ensure the proposals were passed.

Currencies DirectThe pound was able to mount a recovery against its peers on Friday, with a U-turn from Trump regarding a post-Brexit trade deal helping to light a fire under Sterling.
Sterling appears to be consolidating at the start of this week, with GBP/EUR muted at €1.1321, GBP/USD flat at $1.3239 and GBP/CAD stable at C$1.7413, while both GBP/AUD and GBP/NZD are holding steady at AU$1.7820 and NZ$1.9544 respectively.

Weekly Financial Update

Well that was a week, wasn’t it? No sooner had we published this newsletter last Monday, the UK Foreign Secretary, Boris Johnson, joined the resignation party in protest over the proposed Brexit plan, throwing things into yet more turmoil. And this of course led to the Pound losing ground against the Euro as the markets sensed a derailment of Theresa May’s strategy. The rest of the week was pretty turbulent with the GBP / EUR currency pair fluctuating between 1.25 and 1.1330 as Europe wondered where things could go now.

Currencies DirectThe pound fell back against the majority of its peers during yesterday’s session, with the currency being knocked by comments from President Trump.
Sterling remains on the defensive this morning, with GBP/USD falling to $1.3135 and GBP/CAD sinking to C$1.7309, while GBP/EUR is muted at €1.1289 and both GBP/AUD and GBP/NZD are holding steady at AU$1.7774 and NZ$1.9474 respectively.
Looking forward, the only notable data release today is set to be the latest US consumer confidence figures, with a possible dip in household sentiment potentially dragging on the US dollar…

The pound rebounded against most of its peers at the end of last week as the UK government agreed to a Brexit strategy deal.
Trade in Sterling is mixed this morning, with GBP/USD ticking up to $1.3314 and GBP/CAD rising to C$1.7422, with GBP/EUR is muted at €1.1307 and GBP/NZD holding steady at NZ$1.9462. Meanwhile GBP/AUD is sliding, having struck AU$1.7838 in early trade.
Looking ahead, markets are likely to be focused on UK political developments today, with a possible shakeup of Theresa May’s Cabinet following Brexit Minister David Davis’s shock resignation, potentially damping Sterling sentiment.

Pound exchange rate fluctuates as Brexit jitters offset BoE rate expectationsThe pound was met by volatility on Thursday, with a brief spike in the UK currency being wiped out by the end of the day as Brexit uncertainty began to cloud sentiment once again.
Sterling remains shaky this morning, with GBP/EUR muted at €1.1304, GBP/USD flat at $1.3231 and GBP/CAD unmoved at C$1.7375, while both GBP/AUD and GBP/NZD are edging lower, striking AU$1.7876 and NZ$1.9428 respectively.
Looking ahead, the US will publish its latest labour figures today, with the US dollar potentially strengthening if they print in line with expectations…

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