Sterling

[southernharp]

Not much news about brexit where I am so I am looking for an opinion ii hold a foreign currency account which contains some money in sterling left to me by my Mum. I have no need of the money right now and so I have kept it in sterling thinking that I can change it when I might need it. But I am wondering if I should move it sooner rather than later. Will the pound crash? And in the medium term? Don't know what to do

Change it into some other currency quickly. Sterling is going down...

Yeah but not against the NZD. If anything it is creeping up. And that is why I am confused.

GBP:NZD over past year looks pretty stable. Doubt it will last though.

You don't have to hold forex to mitigate against potential sterling devaluation.

Unless the UK economy goes completely to pot, just putting your money in a fund that invests in large companies will help (after sterling dropped post the EU referendum, the FTSE 100 rose because large companies which have significant export earnings were earning more £).

You can buy commodities or precious metals that are quoted in $.

You can invest in stocks or funds that invest in overseas markets.

I'm not suggesting you should do any of these in particular, but you should consider the most appropriate way of managing your foreign currency risk and of course factor in the costs of any transactions.