What the Labour leadership race means for your currency transfer
Following the announcement that Keir Starmer intends to step down as Labour leader, the expected timeframe for Labour to select a new leader therefore a new Prime Minister is approximately 6–10 weeks.
The process is expected to proceed as follows:
* Keir Starmer would remain as caretaker Prime Minister during the leadership contest.
* Labour's National Executive Committee (NEC) would establish the detailed rules and timetable for the election.
* Candidates would need to secure the required nominations under Labour Party rules.
* If more than one candidate qualifies, a ballot of party members would take place.
* Once a new Labour leader is elected, they would be invited by the King to form a government, as Labour continues to hold a majority in the House of Commons. A general election would not normally be required.
Current expectations are that a new leader could be in place between late July and early September, with September being the most likely timeframe. However, if a single candidate emerges with broad support and there is no meaningful contest, the transition could occur more quickly.
Key dates for your calendar:
With Keir Starmer's departure confirmed, a process will now begin to appoint his successor.
9 July - Nominations open for the new Labour Party leader.
16 July - Nominations close and Parliament enters summer recess. If only one candidate comes forward, they become leader without a contest. If more than one candidate qualifies, a full party leadership election takes place.
1 September - Parliament returns from summer recess. Labour must have a new leader in place by this date.
What this means for your exchange rate:
A 6 to 10 week leadership contest is a long window to leave currency exposure unhedged. Sterling is likely to remain sensitive to political developments until a clear frontrunner emerges, and a contested race would add further pressure on the pound..
So what next, what should you do?
If you have a property completion, business payment or regular transfer coming up in the next two to three months, now is the time to talk to us. Our dealers can lock in your rate, set a target rate, or put a forward contract in place so your money is protected whatever the political picture looks like.
If you have a transfer to make, or simply want to understand your exposure, reply to this email or give us a call on +44 (0) 1872 885 172 and we will talk you through your options.
Our friendly currency experts are here to assist you and guide you through the markets, we offer a first-class service and even an online platform so you can monitor your transaction in real time.
Our business ethos is based on bank beating rates and fantastic customer service, click the link below for a no obligation quotation and see the savings for yourself.
Don’t wait. Contact us now.
Or to find out our latest rates, click below.
Get ahead of the game and read our Guide to Foreign Currency Exchange.
Download the Guide Here - with no obligation of course.
Kind regards,
David Evans
Co-Founder of Cle France.
- Great exchange rates
- Quick and easy transfers
- No transfer fees
- Expert help and guidance
- Authorised by the FCA
Current rates:
Wednesday 24th June 2026 at 13:30
£1.00 GBP = 1.1610 EUR
£1.00 GBP = 1.3160 USD
£1.00 GBP = 1.9085 AUD
£1.00 GBP = 2.3340 NZD
£1.00 GBP = 1.8735 CAD
£1.00 GBP = 1.0695 CHF
-
Want to Learn More?
- We have created a selection of Free PDF Guides for you to download covering many aspects of buying property abroad, visit our PDF Guides Page today or download our "Buying A Property in France" Guide PDF document.
-
- At Clé France / Regency FX, many of our customers have a need for currency exchange.
- We are pleased to offer our customers favourable exchange rates on international currency transfers.
- As a Clé France website visitor, you qualify for preferential exchange rates when you transact through Regency FX.
How to Save Money on your foreign currency transfers
- Regency FX can save you money by offering more competitive rates of exchange than your bank.
- Clients can typically save you 3-4% of the total transaction value, which can result in significant cost savings.
- All client funds are held in segregated accounts with top-tier banks keeping your money safe and secure.
- Cle France has partnered with Regency FX, a trusted and fully safeguarded currency exchange provider, to bring you even better service and exclusive benefits when transferring money internationally.
For everything you need to know about French property visit www.clefrance.co.uk
