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Overseas Property News
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Sterling trading at 4-week high against euro
Country: United States
30 July 2009 Brits currently looking to buy property in the eurozone will be pleased to learn that the UK pound has today recovered from its initial negative reaction to the release of another alarming set of GDP figures at the end of last week where the UK economy fell at a rate of 0.8% in Q2, far worse than consensus. After a slow start to this week’s trading, sterling has since recovered its composure. Poor German data yesterday, where annual inflation turned negative for the first time since reunification in 1990, has further boosted the recovery in the pound, which is currently trading back at four week highs against the single European currency at €1.17. However, any Briton looking to buy property in USA or in any other country that has its currency pegged to the US dollar, will be disappointed to learn that sterling’s value against the US currency has dipped over the past week or so. A sudden decrease in investor risk appetite has seen the dollar gain across the board as it takes on its customary safe haven status. Nevertheless, the pound is currently trading at just over 1% off its year high value set against the US dollar towards the end of last month and over 20% off the $1.35 lows posted at the beginning of the year. Currency traders and anyone looking to buy property abroad in the foreseeable future should have one eye firmly on next week’s Bank of England MPC meeting regarding interest rates and quantitative easing, and the impact that it has on sterling’s value against major currencies overseas.
See Also: Currency, Euro, Marc Da-Silva, NO 1 Currency, Sterling, US dollar
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Price: £8,515
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Type: House
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Bedrooms: 3
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HIGH YIELD INVESTMENT, Mortgage offered with a $13,625 Down payment, on this property, income producing investment property, Multi Family Home with two apartments fully let and income producing Full Purchase & Management Service
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Price: £8,515
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Type: House
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Bedrooms: 3
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HIGH YIELD INVESTMENT PROPERTY, Mortgage offered with a $13,625 Down payment, on this property, income producing investment property, Multi Family Home with two apartments fully let and income producing Full Purchase & Management Service PROVIDED
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Type: House
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Type: House
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Price: £15,805
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Type: Apartment
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