Aussies traveling to Britain will have a bit more money in their pockets thanks to Brexit and the plunge in the Pound. One Australian dollar is buying 0.55 British Pence, compared to 0.50 a week ago when it seemed no one was expecting Brits to vote out of the European Union.
Most Australian super funds had been on track to posting positive returns for the year but that’s been questioned after Friday’s Brexit vote triggered financial market carnage.
The losses, which haven’t been that monumental compared to the the GFC, will mainly affect those who have a lot of their retirement savings in the share market and who are looking to retire in the very near future.
Those with longer-term investment horizons have more time to rise out the recent share market volatility and recover any losses.
Just a week out from this Saturday’s federal election, and Brexit has all but assured us that the spotlight will shine brightest on which party can convince us that they have the better economic plan for the future given global uncertainty.
And a wave of new technologies have led to a significant rise of financial crime in Australia and the word is that your internet buying habits could be putting you at risk, according to a report published here by Fairfax Media.
