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Beware of currency volatility, warns HiFX

Currency brokers HiFX are urging international property investors and people planning to emigrate overseas to act now to protect themselves against currency volatility.

HiFX senior economist Chris Towner points out that over the last 72 hours we have seen massive moves in commodity currencies on the back of volatility in the US dollar and the world’s equity markets.

He warns: “Whilst holiday makers shouldn’t be too worried about the impact the current volatility will have on their holiday money or the price of their Sangria, those planning to move abroad or buy property overseas should seek advice on how best to protect themselves from foreign exchange risk.

“With the currency markets in such a volatile and unpredictable state, anyone planning to buy property abroad needs to be aware that they risk the cost of the property being more than they had budgeted for due to adverse rate movements. People thinking about emigrating overseas should also act now to make the most of current rates.”

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