British expats around the world may well be breathing a sigh of relief as the US dollar weakens against the GBP. Whether the current rise in the value of the GBP will be maintained of course remains to be seen.
Because the Thai Baht and USD are closely linked. A strong Pound against the Dollar has a positive knock on effect here. Of course the opposite effect has actually been happening until this month. I read the other day that some analysts are predicting $1.90 to £1 by the end of the year. Just hope they are right.
Just to put this in perspective for Thailand it means a five cent gain by the Pound against the Dollar translates into an extra 5000 Thai Baht on my monthly pension transfers. True this is still nowhere near the exchange rates we received last year when the GBP was over the 2 USD mark. But 5000 Baht goes a long way in Thailand!
British expats in Europe may also be a little happier as Pound/Euro exchange rates start to rise in their favour.
I’m sure we are not out of the woods yet but at least UK expats living on pensions that involve currency conversion should be sleeping just a little easier now especially if their host country has strong links with the USD.
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