Tuesday’s Brexit poll result is bringing good news to expats living in EU member states due to its positive effect on sterling exchange rates.
Expats living in favourite European retirement havens are happy to receive positive news on two fronts this week. Results of a new Brexit poll by ORB Telegraph revealed the Remain campaign is now ahead by a full 13 points, with the immediate effect that sterling rose against the Euro to 1.32 to the pound.It’s especially good news for retirees on UK state pensions, the real value of which has been steadily eroding as the Brexit vote draws nearer.
The fact that the increase in the value of sterling was based simply on the poll result demonstrates without doubt that leaving the EU would have a devastating effect on exchange rates for Brits living overseas. The result is a blow for the Leave campaign, showing that just 42 per cent of respondents are planning on supporting Britain’s exit from the European Union as against 55 per cent hoping to ensure the UK stays within Europe.