Premier FX Limited (‘PFX’) : Following the death of the founder of PremierFX and sole director, Peter Rexstrew, in June of this year, the new directors have become concerned about the cash flow solvency of the company.
It was yet another one of those weeks last week, where Brexit news and President Trump dominated the headlines. It wasn’t good news for Sterling, the UK unit suffering under the spotlight and slumping to the mid 1.11’s against the Euro before gaining slightly to the 1.12 level we start this week at.
But there’s now a lull, as the UK parliament heads off for their summer holidays from Wednesday for six weeks, and the economic data calendar is empty.
I notice that Barclays Bank is running an advertisement on UK TV designed to help people avoid fraud, writes a Dear Reader.
What a shame it never ran a similar ad, here in Portugal, to warn people not to invest in their very own 'Top Selection Vintage Utilities IV' investment scheme.
The 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?
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.
Those 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.
The 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.
The 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…
