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02 January 2026
Tony Redondo, Founder at Newquay-based Cosmos Currency Exchange, said it was a big moment for the UK.
He continued: “Jackpot in the City of London this morning with the FTSE 100 hitting 10,000 for the first time, a historic psychological milestone. This milestone validates the ‘Old Economy’ giants – banks, miners, and energy firms – that dominate the London market.
“It reveals a British business landscape defined by global resilience and high dividend yields rather than high-tech growth. Since 75% of these firms’ revenues are earned abroad, this peak reflects global stability and a weaker pound, more than domestic UK strength.
“For 2026, expect a ‘tug-of-war’ around the 10,000 level as markets digest interest rate shifts. We will likely see increased Mergers and Acquisitions (M&A) activity as UK assets gain favour as they’re cheap by international standards, alongside a widening gap between these international blue-chips and smaller, domestic-focused companies. This record sets a bullish tone for the year, which I fear will be quickly worn away by all the economic and political ills the UK faces.”
02 January 2026
Tony Redondo, Founder at Newquay-based Cosmos Currency Exchange, urged holidaymakers to purchase their foreign currency now.
He added: “The Pound has faced ‘death by a thousand cuts’ throughout 2025, dropping over 5% in value against the Euro as the Bank of England shifted from interest rate hawks to doves.
“This change in stance reflects a new priority of encouraging economic growth over combating sticky inflation, especially as the UK economy stagnates under the weight of £70 billion in tax increases implemented since July 2024. Looking ahead, many analysts expect the Pound to fall a further 3–4% against the Euro in 2026.
“For those with European travel plans in early 2026, it may be wise to purchase currency now or load a prepaid card to lock in current rates. Conversely, the United States currently offers better value for British travellers, with the Pound hitting a four-week high against the Dollar earlier this week.”
29 December 2025
Tony Redondo, Founder at Newquay-based Cosmos Currency Exchange, said Brits travelling to the US “should buy their Dollars now”.
He added: “The Pound is trading at its strongest against the Dollar since September, offering a welcome opportunity for USD buyers.
“The Dollar has weakened after US inflation data showed a sharper-than-expected slowdown, raising expectations of more aggressive Federal Reserve rate cuts in 2026.
“Markets have reacted swiftly, driving the current Dollar softness. However, this strength in Sterling is built mainly on Dollar weakness, not UK economic improvement, so waiting until January could be risky.
“If the Dollar rebounds or sentiment shifts, these favourable rates may vanish.
“Holidaymakers heading to the US, property buyers and importers paying in Dollars all stand to benefit, while exporters and Dollar sellers may prefer to wait for the pressure to return to the Pound as the UK outlook dims.”
22 December 2025
Tony Redondo, Founder at Newquay-based Cosmos Currency Exchange, a forex broker, said silver’s role in key growth sectors such as solar, EV (electric vehicles) and AI is a contributor to its stellar performance in 2025, but that there may be short-term price volatility before the metal eventually pushes on.
He said: “Silver is surging, being driven by acute supply tightness and booming industrial demand. A combination of plunging supply and explosive solar, EV and AI usage have created extreme delivery stress.
“However, after a near‑parabolic run, a pullback or choppy consolidation soon is more likely than a straight-line rise.
“Still, the medium-term outlook remains strongly bullish with many expecting a price of as high as $100 in 2026, driven by ongoing supply deficits and ETF (Exchange-Traded Fund) inflows.
“It’s starting to feel like this is the start of a major surge for silver, rather than isolated froth.”
18 December 2025
Tony Redondo, Founder at Newquay-based Cosmos Currency Exchange, said the Bank of England was “caught between a rock and a hard place”.
He continued: “Unlike Mr Starmer, the Bank of England (BoE) is not economically illiterate. With UK inflation still the highest in the G7 and 60% above target, nine times out of 10 the BoE would be looking to raise and not cut interest rates in keeping with standard economic theory.
“The trouble is the BoE is very aware that the £70bn of tax rises, new employment law and public sector pay awards doled out by Labour since coming to power in July 2024 have decimated the economy so they are between a rock and a hard place.
“They have cut rates by only 0.25% in an effort to save the economy from going into recession without stoking inflation.
“To stop inflation, they should have raised rates. To kickstart the economy, they should have cut by at least 0.5%. Sensibly, they have gone for a smaller cut to strike a balance between the two.”
18 December 2025
Tony Redondo, Founder at Newquay-based Cosmos Currency Exchange, said: “As widely expected, the Bank of England cut the base rate today by 0.25% to 3.75%, its lowest level for three years.
“But the surprise was that, far from being unanimous, we had a second 5-4 vote by the MPC but this time with four members voting to leave UK interest rates unchanged. This hawkish cut signals a more gradual pace of cuts in 2026 than the markets had priced in.
“It was good news for Pound sellers as Sterling immediately jumped 0.24% against the Euro on the announcement and recovered its morning losses against the Dollar.
“That being said, 2026 will remain a very difficult year for both the UK economy and the Pound but thanks to ‘Santa’ Andrew Bailey, we have a rare ray of sunshine for the Pound at the time of writing.
“A hawkish vote count has prevented Sterling from entering free fall.”
18 December 2025
Tony Redondo, Founder at Newquay-based Cosmos Currency Exchange, told Newspage: “The UK still has the highest inflation rate among the G7, and an inflation rate of 3.2% remains 60% above target. According to economic theory, the BoE should not have cut rates today. Still, in practice, it was absolutely essential for the survival of the UK economy that it did so with a dovish outlook for 2026.
“Today’s rate cut is welcome news for borrowers. Savers will suffer as returns on easy-access accounts fall below 4%, hitting pensioners relying on interest income particularly hard. Some will argue the cut doesn’t go far enough, given the UK economy has stagnated, but the Bank wants to avoid reigniting inflation.
“Governor Bailey, this measured approach strikes a reasonable balance, but don’t be complacent. Inflation remains well above the 2% target, and services inflation stays sticky. The economy may need further support ahead. What matters most now is clear communication about your next moves.”
17 December 2025
Tony Redondo, a fractional currency consultant at Cosmos Currency Exchange, said: “After Friday’s dreadful GDP data and this week’s grim unemployment figures, finally some relief for consumers, borrowers, and businesses with a second consecutive monthly fall in the UK CPI inflation rate.
“This all but nails on a 0.25% interest rate cut by the Bank of England tomorrow.”
16 December 2025
Silver’s role in key sectors that are growing rapidly, such as solar power, electric vehicles and AI, has made some analysts believe there will be a pullback in prices before a “straight line rise”.
“Still, the medium-term outlook remains strongly bullish with many expecting a price of $70–$100 in 2026, fuelled by persistent supply deficits and ETF (Exchange-Traded Fund) inflows. It’s starting to feel like this is the start of a major surge for silver, rather than isolated froth,” said Tony Redondo, founder at Cosmos Currency Exchange.
13 December 2025
Rachel Reeves utterly disconnected to reality – it’s beyond a joke and UK is being ruined
If the economy sees any growth in 2026, it will be anaemic and fragile, says small business owner Tony Redondo.
OPINION
By Tony Redondo
11:00, Sat, Dec 13, 2025 Updated: 12:23, Sat, Dec 13, 2025
Let’s not beat around the bush. The policies of this Labour Government are destroying the UK economy, sending countless businesses under, decimating sentiment and causing entrepreneurs to flee overseas. What’s even more terrifying is that they cannot see this simple fact because those in the Government’s highest ranks have absolutely no experience in running a business and are totally disconnected from the economic frontline.
Rachel Reeves is like a modern-day General Melchett in Blackadder, sipping Earl Grey tea while regular businesses, bogged down in a thick fiscal mud, fix bayonets and go over the top in a frantic battle to protect their bottom line. Labour’s total disconnect with the business world was highlighted by a drinks evening the Chancellor held with a selected few scale-ups on Monday in Downing Street. For most businesses, the only thing that’s scaling up is their costs, stress levels and overdrafts, but Labour are handing out the nibbles to “the UK’s top entrepreneurs” in Number 10, claiming to be backing small businesses.
For Labour to make that claim alone is beyond a joke. It reveals that there is no gap between current political rhetoric and economic reality, but rather a chasm. If what the Government has done is to back small businesses, I hate to think what it would do if it were anti-small business.
Does Reeves think canapés with handpicked businesses will revive a moribund economy? If she does, we are all in serious trouble and may as well pull the shutters down now.
Under Labour, the blows keep raining down on business. Employers’ National Insurance is up, the National Minimum Wage is up, and all manner of taxes are up. The only things that aren’t up are GDP and confidence.
This week’s GDP data says it all. Businesses are at breaking point, terrified of investing and buckling under the immense weight of tax, while households aren’t spending — and who can blame them?
We’re now reliant on the Bank of England to deliver some much-needed relief next week in the form of a rate cut. Rarely has a rate cut been so important to the economy.
In my job as a forex broker, the only businesses I talk to who are confident at present are those that do most of their business overseas. They’re being helped by the weak Pound, another casualty of a Government out of its depth.
All the company owners I know who do their business in the UK expect another grim year in 2026, as the tax regime continues to grind them down.
If we get any economic growth next year, it will be anaemic and beyond fragile. And for that, Labour needs to look long and hard in the mirror.
12 December 2025
Meanwhile, forex broker Tony Redondo, Founder at Newquay-based Cosmos Currency Exchange, said he is not confident about the year ahead: “My outlook for 2026 is cautiously wary. Only my international clients seem upbeat, reporting good opportunities overseas, helped by a weakening Pound.
“Domestic-oriented businesses expect another tough year in 2026, with the economy continuing to slow down, driven by the full impact of current high rates and continued global headwinds. Any economic growth will be on the low side and fragile.”
11 December 2025
Tony Redondo, Founder at Newquay-based Cosmos Currency Exchange, agreed with Mather-Holgate that things are looking more positive on the interest rate front.
He said: “The monetary after-party is very much on, with HSBC forecasting Bank Rate reaching 3% by the end of 2026 and the Organisation for Economic Co-operation and Development predicting 3.5% by mid-year. This represents a new neutral rather than a return to post-GFC zero rates.
“For borrowers, 2026 looks promising with typical mortgage rates expected to stabilise below 4%. However, 600,000 borrowers rolling off ultra-low fixes will still face payment increases.”
08 December 2025
Currency specialist Tony Redondo, Founder of Cosmos Currency Exchange, said the pound faces an “extremely challenging” 2026 as inflation drops towards 2%, growth slows to 0.9%, and the labour market softens.
He said: “The December 18 0.25% cut to 3.75% is just over 90% priced in.
“At November’s meeting, before the Budget, Governor Bailey swung a tight 5-4 vote to hold at 4%, with four members backing a cut, setting up December for action.
“The real debate centres on 2026’s pace: the OECD predicts two more cuts to 3.5% by June before pausing, while HSBC forecasts a more aggressive path to 3% by year-end.
Either trajectory suggests continued Pound weakness, particularly against the Euro.”
08 December 2025
As for the impact on the pound, currency specialist Tony Redondo, Founder of Cosmos Currency Exchange, predicted the pound faces an “extremely challenging” 2026 as inflation drops towards 2%, growth slows to 0.9%, and the labour market softens.
He said: “The December 18 0.25% cut to 3.75% is just over 90% priced in. “At November’s meeting, before the Budget, Governor Bailey swung a tight 5-4 vote to hold at 4%, with four members backing a cut, setting up December for action. The real debate centres on 2026’s pace: the OECD predicts two more cuts to 3.5% by June before pausing, while HSBC forecasts a more aggressive path to 3% by year-end.Either trajectory suggests continued Pound weakness, particularly against the Euro.”
08 December 2025
Tony Redondo, Founder at Newquay-based Cosmos Currency Exchange, was nonplussed: “This Labour government claiming to back small businesses is beyond a joke. They’re in Cloud Cuckoo Land. There isn’t a gap between rhetoric and reality. It’s a chasm.
“If what the Government has done is backing small businesses, I hate to think what the government would do if it was anti-small business.”
06 December 2025
Tony Redondo, founder of Cosmos Currency Exchange, told the Newspage agency that taxpayers should be concerned about the time and cost.
‘In practice, I fear a lot of time and cost is going to be wasted on a lot of spurious investigations as disgruntled ex-employees, embittered ex-spouses and sacked advisers nursing a grudge dob in their targets via exaggerated, malicious or outright vindictive tip-offs, which HMRC will have to sift through,’ he said.
05 December 2025
Tony Redondo, founder of Newquay-based Cosmos Currency Exchange, said the premise of the scheme is understandable — but the unintended consequences could be severe.
“In theory, the Strengthened Reward Scheme is a no-brainer. But in practice, I fear a lot of time and cost will be wasted on spurious investigations as disgruntled ex-employees, embittered ex-spouses and sacked advisers dob in their targets via exaggerated, malicious or outright vindictive tip-offs. HMRC will have to sift through all of it, and taxpayers will foot the bill.”
05 December 2025
Tony Redondo, Founder at Newquay-based Cosmos Currency Exchange, said: “In practice, I fear a lot of time and cost is going to be wasted on a lot of spurious investigations as disgruntled ex-employees, embittered ex-spouses and sacked advisers nursing a grudge dob in their targets via exaggerated, malicious or outright vindictive tip-offs, which HMRC will have to sift through.”
04 December 2025
Tony Redondo, Founder at Newquay-based Cosmos Currency Exchange, said: “There is a striking gap between perceived and actual financial literacy in the UK. In fact, the disconnect is brutally stark. While most people feel confident about their money knowledge, less than half can correctly answer a basic inflation question.
“The challenge lies in understanding that halving inflation doesn’t mean prices fall, just that they rise more slowly, a simple distinction between the rate of change and direction of change.
“Encouragingly, financial education now ranks second in importance among school subjects, implying there is growing public recognition that this knowledge gap needs addressing.
“There’s a clear appetite for better financial education, which makes sense given how fundamental these concepts are to everyday life, from understanding mortgages and savings to making sense of economic news. Financial literacy lessons should be mandatory in British schools to bridge this critical gap.”
01 December 2025
Tony Redondo, Founder at Newquay-based Cosmos Currency Exchange, said he expects changes at the top by Easter.
He continued: “It is claimed the Chancellor promoted a sustained narrative about a fiscal black hole without disclosing the OBR’s positive headroom forecast. The controversy centres on the fact that while the OBR did deliver a productivity downgrade, wiping £16 billion off expected tax receipts, much of that was offset by inflation and higher wage growth, leaving a £4.2 billion surplus.
“Starmer signed off on the Reeves Budget, so despite the pressure, Downing Street has no choice but to back the Chancellor. The coming days will be critical for both. This government came into office on a manifesto of increasing taxes by up to £8 billion in this parliament’s 5-year term.
“Instead, Reeves has increased taxes by £70 billion in her first two Budgets. Labour’s majority at the last election was described as a mile wide and an inch deep. Given the lack of vision and constant failings on all fronts, I expect major changes at the top before Easter.”
01 December 2025
Tony Redondo, Founder at Newquay-based Cosmos Currency Exchange, cut straight to the chase: “Millions of borrowers and businesses made financial decisions in November based on potentially misleading information.”
28 November 2025
Tony Redondo, Founder at Newquay-based Cosmos Currency Exchange, said small companies will be affected.
He added: “This Chancellor’s ‘growth agenda’ rhetoric consistently fails to match policies that encourage investment, risk-taking, and entrepreneurialism. The reduction in upfront income tax relief will materially reduce incentives for investing in illiquid, high-risk VCTs.
“This will likely deter many investors, especially when they can gain greater income tax relief of up to 45% on mainstream, less risky pension investments. The industry impact will be stark.
“When VCT income tax relief was cut from 40% to 30% in 2006/07, funds raised fell 65% year-on-year and didn’t recover to previous levels for another 16 years. Yesterday’s announcement means 2026/27 will be no different, leaving smaller companies facing a funding drought in the years ahead.”
28 November 2025
Since the Budget, Tony Redondo, Founder at Newquay-based Cosmos Currency Exchange, has been nonplussed: “Forget socialism. Reeves is pushing the UK towards a communist economic disaster. Welcome to communist Britain. This Budget is the death of aspiration.”
27 November 2025
Tony Redondo, Founder at Cosmos Currency Exchange, said concerns are mounting.
“The Budget’s £70bn tax increase across two budgets pushes the tax burden to a post-war peak of 38.3% of GDP, more than any modern Chancellor. Concerns are mounting that these measures could push the sluggish economy into outright recession once they impact the real economy.”
26 November 2025
Tony Redondo, founder at Newquay-based Cosmos Currency Exchange, said: “Keeping income tax and NI unchanged provides immediate relief to take-home pay during the cost-of-living squeeze, but if we’re not raising these taxes but still need revenue, the money must come from somewhere—stealth taxes through frozen thresholds, higher VAT, or service cuts.
“Since 1997, the UK public sector has expanded from 37.5% to around 45% of the economy. The tax burden is at its highest since the late 1940s. Rather than endless arguments about spending allocation and subjective notions of ‘fairness’, the UK needs fiscal discipline.”
26 November 2025
Tony Redondo, founder of Cosmos Currency Exchange, said confidence in Reeves had evaporated, but argued replacing her could trigger further turmoil.
“She is the worst Chancellor in 50 years,” he said. “But if she resigns, the bond vigilantes will smell blood, and the UK could face a shock worse than the Truss 2022 meltdown.”
26 November 2025
Tony Redondo, Founder at Newquay-based Cosmos Currency Exchange, said confidence in the Chancellor was gone: “Rachel Reeves is the worst chancellor the UK has endured in 50 years, since Denis Healey went cap in hand to Washington for an IMF bailout loan. Very reluctantly, I don’t think she should resign, for one simple reason: what comes after her would be even worse.
“The bond vigilantes would smell blood in the water, and the UK would face an economic shock that would make Truss’s 2022 mini-Budget meltdown look like a minor economic blip. As for the leaks, market confidence in this Chancellor and government has already eroded.”
25 November 2025
Tony Redondo, Founder at Newquay-based Cosmos Currency Exchange, said there is “genuine anxiety” about the Pound.
He added: “Currency traders are hedging against potential Pound weakness ahead of tomorrow’s Budget, with bearish positioning at multi-year highs.
“They’re paying record premiums for volatility protection, particularly put options against the Dollar and Euro, amid fears that Chancellor Rachel Reeves’ tax hikes and spending increases could pressure Sterling – especially with a potential December Bank of England rate cut looming.
“This defensive positioning reflects genuine anxiety, not mere speculation. The September 2022 Truss-Kwarteng mini-Budget offers a stark reminder: the Pound plunged over 6% versus the Euro and 13% against the Dollar, hitting its lowest level since 1971. Markets fear we’re facing a Groundhog Day scenario.”
25 November 2025
Tony Redondo, Founder at Newquay-based Cosmos Currency Exchange, said he fears “stealth taxes with yet another freeze on income tax thresholds”.
He also worries about an increase in dividend tax and capital gains tax, and more red tape.
He added: “Another rise in business taxes could make running a firm in the UK untenable. We could have a Truss-like run on the Pound if the bond vigilantes give a thumbs down to the Budget.”
24 November 2025
Tony Redondo, Founder at Newquay-based Cosmos Currency Exchange, said Budget week is a time to be measured, despite the chaos that has led up to it: “Time in the market beats timing the market. Unless your personal circumstances, such as age, liquidity needs or tax situation, mean the Budget directly affects your financial plan, measured responses beat knee-jerk reactions in most cases.
“For most investors, do nothing. Markets have survived hundreds of Budgets. If you’re diversified and matched to your risk tolerance, sit tight. If yields soar or sterling falls, don’t panic-sell gilts if you’re long-term.
“A falling pound helps many investors as international equities and FTSE 100 multinationals benefit from sterling weakness. For sophisticated investors, watch for inheritance tax reforms such as taper relief and gifting rules, capital gains tax changes, property taxation and pension reforms.”
20 November 2025
Tony Redondo, Founder at Newquay-based Cosmos Currency Exchange, said the NVIDIA results have heralded a brave new world and that “the virtuous cycle is real”.
But he warned: “Single-stock risk is brutal at 50x forward P/E. You can get AI exposure via ETFs without betting the farm.
“For the risk-averse, perhaps allocate up to 10%, for those with risk appetite, an aggressive 30% of the portfolio.
“Yes, markets are dangerously hooked on the Magnificent 7 that currently account for 37% of the S&P500, so cap AI at a third of equities and hedge with value/international. Own the trend, not the headline stock.”
19 November 2025
SMALL business owners fear tax rises and higher costs announced in the Budget next week “could make running a business in the UK untenable”. They also worry there could be a “Truss-like run on the Pound”.
Chancellor Rachel Reeves will set out her plans for the economy on Wednesday November 26th where a raft of tax increases are expected to be unveiled on already struggling UK businesses.
Local businesses have shared what they fear most from the Autumn Budget – with worries that the rise in National Insurance costs at the last Budget was indicative of a focus on hitting small businesses.
Tony Redondo, Founder at Newquay-based Cosmos Currency Exchange, said he fears “stealth taxes with yet another freeze on income tax thresholds”.
He also worries about an increase in dividend tax and capital gains tax, and more red tape.
He added: “Another rise in business taxes could make running a firm in the UK untenable. We could have a Truss-like run on the Pound if the bond vigilantes give a thumbs down to the Budget next week.”
James Cane, Director at James Cane – The Truro Estate Agent, said he fears property will be targeted by the government.
In response to being asked what he worries about most in the Budget, he said: “A rise in stamp duty or any sort of extra tax involved in buying or selling property.
“There has been talk of a stamp duty payable not only when buying a house but also when selling, which would be really detrimental to an already poor market.”
Andrew Wattsford, finance specialist at Wattsford Commercial Finance, said he fears a tax hike on businesses.
He added: “It would be folly to raise taxes at the expense of the very firms that drive employment, innovation and tax revenue. Penalising enterprise during a fragile recovery risks undermining the economy.”
Tim Cooper-Cocks, business development specialist at Tomorrow Assured, said he worries that businesses are on the edge.
He continued: “My main concern is anything that increases operational costs or adds complexity at a time when many businesses are already juggling tight margins.
“Sudden shifts, especially around taxation, can unsettle confidence.”
Lewis Hallam, owner of Lemiyu, also fears taxes aimed at small businesses that are already under pressure.
He added: “There will probably be more initiatives that are disguised as ‘support’, but actually favour larger companies or outdated models whilst punishing those that are trying to establish a foothold.
“There’s always a fear of tax increases as well, which continue to make it harder for small firms to remain competitive.”
Patricia Fox, Managing Director at Figurefox Chartered Certified Accountants, said: “My only message is this: just because someone is running a business as a sole trader or limited company doesn’t mean they are earning huge amounts. Penalising these people for not being “workers” — i.e. employees — is not fair.”
She added: “These micro-entrepreneurs hold up the economy. And yet they are often treated badly. Sole directors of limited companies cannot get the employers allowance and have already been given an extra NI bill of £1k last year.
“These are the people who got no support during Covid and no self-employment income support.”
Paul Stamp, Partner at Ultimate Funding Solutions, said he fears income, business and corporation tax increases.
He continued: “Since the start of summer there has been a reduction in the flow of business – turning into a significant reduction the closer we have got to the Budget.
“Uncertainty is the feeling at the moment and sadly this will continue until the Budget – after which hopefully there will be some clarity in terms of moving forward.”
John Dunwell, owner of Mr Merchandise, summed it all up very simply: “I think the country has got itself into a serious hole that no-one seems to know how to get out of.”
18 November 2025
Tony Redondo, Founder at Newquay-based Cosmos Currency Exchange, welcomed the move: “This is a sensible, if long overdue, adjustment that better protects ordinary savers while maintaining confidence in the banking system. The main criticism is that the £85,000 limit has remained unchanged since 2017, meaning real protection eroded by roughly 30% due to inflation. The increase to £120,000 restores this value.
“The stated goal of maintaining public confidence is legitimate, as deposit insurance is fundamentally about preventing bank runs. However, future adjustments should be more regular. Why isn’t there automatic indexation, as other countries have implemented? The announcement also doesn’t clarify whether joint accounts receive £120,000 per person or in total.”
17 November 2025
Tony Redondo, Founder at Newquay-based Cosmos Currency Exchange, said confidence in the Chancellor was gone.
He continued: “Rachel Reeves is the worst Chancellor the UK has endured in 50 years, since Denis Healey went cap in hand to Washington for an IMF bailout loan. Very reluctantly, I don’t think she should resign, for one simple reason: what comes after her would be even worse.
“The bond vigilantes would smell blood in the water, and the UK would face an economic shock that would make Truss’s 2022 mini-Budget meltdown look like a minor economic blip.
“As for the leaks, market confidence in this Chancellor and government has already eroded. On Friday morning, 10-year gilt yields reached their highest level on Friday morning since 20 October.”
13 November 2025
Tony Redondo, Founder at Cosmos Currency Exchange, added: “16 months into the first Labour government for 15 years, and the UK economy continues to be the laggard among its peers, underperforming the OBR’s recent forecasts.]
“The weakness is concentrated in manufacturing and production, with construction barely growing despite housing being a priority, while services continue to do the heavy lifting.
“The real concern is GDP per head showing zero growth, meaning living standards aren’t improving despite headline growth.
“Investment decisions appear to be on hold ahead of the Budget. If the Budget disappoints markets or businesses, Q4 will be weaker still. If it provides clarity and support, pent-up activity could be released. Over to Rachel.”
11 November 2025
Tony Redondo, Founder at Newquay-based Cosmos Currency Exchange, said: “The tax on jobs announced by the Chancellor in last year’s Budget has had its inevitable result, with the UK unemployment rate hitting its highest level since May 2021 in the aftermath of the Covid-19 lockdowns.
“This is concerning data showing a clear softening in the UK labour market. Of particular concern is the simultaneous rise in unemployment to 5.0% and fall in payrolled employees by 117,000 over the year, while vacancies remain stubbornly flat.
“This suggests employers are contracting headcount but not yet confident enough to hire aggressively. The bad news does not stop there. The public-private sector wage divergence indicates the private sector is bearing the brunt of cost pressures. Now we roll on to this year’s Budget tax rises in just over two weeks.”
06 November 2025
Tony Redondo, Founder at Newquay-based Cosmos Currency Exchange, said that while the Bank of England should cut rates, it likely won’t.
“The Bank of England should cut rates today. The UK economy is in desperate need of a pick-me-up. Sadly, I very much doubt it will. Not weeks before the Budget, and not when they risk being accused of political favouritism.
I expect the November Bank of England meeting to be a close call, with the decision to leave Bank Rate unchanged at 4% passing by the slimmest majority possible. A 5-4 vote split looks possible, with Governor Bailey having to cast the deciding vote.”
04 November 2025
Tony Redondo, founder at Newquay-based Cosmos Currency Exchange, said that while the Bank of England should cut rates, it likely won’t: “The Bank of England should cut rates on Thursday. The UK economy is in desperate need of a pick-me-up. Sadly, I very much doubt it will. Not weeks before the Budget, and not when they risk being accused of political favouritism.
“I expect the November Bank of England meeting to be a close call, with the decision to leave Bank Rate unchanged at 4 per cent passing by the slimmest majority possible. A 5-4 vote split looks possible, with Governor Bailey having to cast the deciding vote.”
30 October 2025
Tony Redondo, Founder at Newquay-based Cosmos Currency Exchange, said, “The pound has plunged to its lowest against the euro since May 2023 as markets brace for the Budget on 26 November.
While hoping lower borrowing costs and growth will help, speculation is growing that Chancellor Rachel Reeves must break Labour’s pledge and raise direct taxes.
“Bond markets are watching nervously. Excessive borrowing could trigger 2022 mini-Budget-style turmoil. With Budget Day looming, sterling volatility will likely persist as fiscal reality clashes with political promises.”
30 October 2025
Tony Redondo, Founder at Newquay-based Cosmos Currency Exchange, said the Budget could lead to a volatile pound.
He continued: “The pound has plunged to its lowest against the euro since May 2023 as markets brace for the Budget on 26 November.
“While hoping lower borrowing costs and growth will help, speculation is growing that Chancellor Rachel Reeves must break Labour’s pledge and raise direct taxes.
“Bond markets are watching nervously. Excessive borrowing could trigger 2022 mini-Budget-style turmoil. With Budget Day looming, sterling volatility will likely persist as fiscal reality clashes with political promises.”
20 October 2025
Similarly, Tony Redondo, Founder at Cosmos Currency Exchange, said what has happened to Pizza Hut is “a classic retail problem”.
He said: “Being second-best at everything kills you faster than being excellent at one thing. Pizza Hut’s struggles reflect a brutal market squeeze.
“Rising costs, changing consumer preferences toward either upmarket dining or budget delivery, and an inability to differentiate ultimately sealed their fate.”
20 October 2025
“Being second-best at everything kills you faster than being excellent at one thing,” said Tony Redondo, Founder of Cosmos Currency Exchange. “Premium chains like Pizza Express offer craft quality and ambiance, while Domino’s dominates on affordability and convenience. Pizza Hut got stuck in the middle—neither premium enough nor cheap enough to compete.”
He added that the brand’s delivery infrastructure lagged behind rivals, reducing competitiveness at a time when ordering in has become a dominant revenue driver.
13 October 2025
Tony Redondo, founder of Cosmos Currency Exchange, said the speed of the AI revolution meant the Treasury could not afford to delay reform.
“Gradual change over 20 years allows adaptation. But AI’s transformation is happening in five to ten — it demands urgent action,” he said.
Redondo rejected the idea of a “robot tax” as “administratively unworkable”, warning it could push capital offshore.
“How do you value AI’s labour-equivalent? Aggressive profit levies risk capital flight to low-tax jurisdictions,” he said. “A pragmatic middle ground is to broaden the corporate tax base to capture digital services, modestly raise capital gains and dividend taxes, and strengthen enforcement.”
13 October 2025
Tony Redondo, Founder of Cosmos Currency Exchange, said tinkering with the VAT regime was “not a structural fix but a one-time revenue boost”.
“It would come at a high economic and political cost,” he said. “The UK doesn’t need higher VAT; it needs a growth plan that restores confidence and rewards enterprise.”
12 October 2025
John Barnes needs guidance, not criticism, after being declared bankrupt, according to a fellow retired sports star. HM Revenue & Customs (HMRC) recently revealed that John Barnes Media Limited, his now-liquidated company, had racked up debts of over £1.5 million.
The liquidators’ reports indicate that HMRC is due £776,878 in unpaid VAT, National Insurance and PAYE, with an additional £461,849 owed to unsecured creditors and a £226,000 director’s loan. Barnes, who was capped 79 times for England, has faced several bankruptcy petitions since 2010, including one in 2023 over a £238,000 personal tax bill that was settled at the 11th hour.
Barnes has received sympathy from former England rugby star David Flatman, who has worked with the Liverpool legend at various engagements. Flatman didn’t perceive Barnes as being lavish with his money and suspects he simply needed more help in managing his finances.
He also pointed out that Barnes wouldn’t have retired with millions in the bank, like a player like Wayne Rooney. Speaking exclusively to Cosmos Currency Exchange, Flatman said: “If you’re a guy who got paid vast amounts of money in the NBA or the NFL, and you’re on $40million a year, and everywhere you go you arrive with an entourage.
“But I’ve done events with John Barnes before, fundraising events, and he doesn’t arrive in a helicopter or Rolls Royce, with 12 people taking a cut. He’s just a good bloke who arrived, did the event and got paid.
“Was he surrounded by the wrong people? I don’t know. But at the same time you do need somebody to tell you to stop spending all your money. I am 45 and I still need that.”
Flatman pointed out that Barnes didn’t play in an era when football was awash with money at the top level, as it is now. He said: “Was John Barnes playing in an era where lads were getting half a million a week? No, he didn’t.
“Did he retire with £100m in the bank like Wayne Rooney? Did he have a family office running his money? Probably not. He likely left his money to be dealt with by someone else and he may just not fully have known what was going on. But guess what? That’s most of us. I’m not in that situation, but it’s a situation I think about a lot because I’m useless with money!”
Flatman believes too much is expected of sportspeople of all ages. He added: “It has nothing to do with playing sport. It has to do with how some people are just useless with money, tax for example, and people are human beings. It’s nothing to do with sport.
“It’s just that when they do go bankrupt, everyone hears about it because they are famous. There could be three blokes on my street who have gone bankrupt, but no one knows.
“It’s nothing to do with sport. Some people think it’s to do with earning a massive salary, then bang it goes. Well, Barnes stopped earning his football salary a very long time ago. The link to sport is misleading sometimes, I think.”
12 October 2025
John Barnes needed an intervention before being declared bankrupt, according to a fellow retired sports star who has worked with the Liverpool and England legend. HM Revenue & Customs (HMRC) recently announced John Barnes Media Limited, his now-liquidated company, had amassed debts exceeding £1.5million.
Liquidators’ reports show HMRC is owed £776,878 in unpaid VAT, National Insurance and PAYE, alongside £461,849 to unsecured creditors and a £226,000 director’s loan. Barnes, capped 79 times by his country, has faced multiple bankruptcy petitions since 2010, including one in 2023 over a £238,000 personal tax bill that was settled at the last moment. His financial problems have surprised former England and Bath rugby star David Flatman, who has worked with Barnes at various engagements and fundraising events.
He didn’t believe Barnes was extravagant with his money and suspects he just needed more guidance with managing his affairs. Speaking exclusively to Cosmos Currency Exchange, Flatman said: “If you’re a guy who got paid vast amounts of money in the NBA or the NFL, and you’re on $40million a year, and everywhere you go you arrive with an entourage.
“But I’ve done events with John Barnes before, fundraising events, and he doesn’t arrive in a helicopter or Rolls Royce, with 12 people taking a cut. He’s just a good bloke who arrived, did the event and got paid.
“Was he surrounded by the wrong people? I don’t know. But at the same time you do need somebody to tell you to stop spending all your money. I am 45 and I still need that.”
Flatman believes too much is expected of sportspeople of all ages. He added: “I actually think it’s not always to do with having been a sportsman. We expect certain things from sportspeople, some of which are unrealistic.
“A professional athlete gets caught doing something wrong, and I say yes, I know they shouldn’t, but this is just a 25-year-old bloke and he happens to do sport as a job. Just because he signs a contract, we expect everyone to be morally beyond reproach? But you also expect someone who earned money in the public eye to somehow be better advised than you are. Why would they?”
Flatman pointed out that Barnes didn’t play in an era when football was awash with money at the top level, as it is now. He said: “Was John Barnes playing in an era where lads were getting half a million a week? No, he didn’t.
“Did he retire with £100m in the bank like Wayne Rooney? Did he have a family office running his money? Probably not. He likely left his money to be dealt with by someone else and he may just not fully have known what was going on.
“But guess what? That’s most of us. I’m not in that situation, but it’s a situation I think about a lot because I’m useless with money! It has nothing to do with playing sport. It has to do with how some people are just useless with money, tax for example, and people are human beings. It’s nothing to do with sport.
“There are lots of people in all kinds of jobs that are not good with money. It’s just the walk of life. And the whole notion that someone who used to play professional sport should by default be better at managing their money is erroneous.
“It’s just that when they do go bankrupt, everyone hears about it because they are famous. There could be three blokes on my street who have gone bankrupt, but no one knows.
“It’s nothing to do with sport. Some people think it’s to do with earning a massive salary, then bang it goes. Well, Barnes stopped earning his football salary a very long time ago. The link to sport is misleading sometimes, I think.
06 October 2025
Former Bath and England prop David Flatman has been reflecting on the second round of Prem Rugby, highlighting Afolabi Fasogbon’s “pirouette, sidestep and dive” as a personal highlight from the weekend.
Speaking to Cosmos Currency Exchange, the presenter said: “My highlight was the madness of the comebacks at Leicester and Gloucester. Just totally wild with entertainment, and stress levels off the charts! Who would be a coach? Two moments would be Alex Dombrandt’s pass for the Will Porter try, as it was utterly sublime, and Afolabi Fasogbon’s pirouette, sidestep and dive for a try. Wonderful!
06 October 2025
Tony Redondo, founder of Newquay-based Cosmos Currency Exchange, said: “The pound has fallen over 4% against the euro in the past year and faces continued pressure heading into 2026 due to recession fears and pre-budget uncertainty.
“Goldman Sachs forecasts another 3% decline to €1.11, though some analysts expect range-bound trading given economic troubles across major Eurozone economies.
“British holidaymakers planning winter getaways to Spain, Portugal, or European Christmas markets should consider purchasing euros now, as Sterling will likely weaken further before the Budget. For better rates, avoid airport exchanges and opt for pre-loaded travel cards topped up with small amounts of cash for taxis and street market spending.”
06 October 2025
Tony Redondo, founder of Newquay-based Cosmos Currency Exchange, said: “The pound has fallen over 4% against the euro in the past year and faces continued pressure heading into 2026 due to recession fears and pre-budget uncertainty.
“Goldman Sachs forecasts another 3% decline to €1.11, though some analysts expect range-bound trading given economic troubles across major Eurozone economies.
“British holidaymakers planning winter getaways to Spain, Portugal, or European Christmas markets should consider purchasing euros now, as Sterling will likely weaken further before the Budget. For better rates, avoid airport exchanges and opt for pre-loaded travel cards topped up with small amounts of cash for taxis and street market spending.”
06 October 2025
Tony Redondo, founder of Newquay-based Cosmos Currency Exchange, said: “The pound has fallen over 4% against the euro in the past year and faces continued pressure heading into 2026 due to recession fears and pre-budget uncertainty.
“Goldman Sachs forecasts another 3% decline to €1.11, though some analysts expect range-bound trading given economic troubles across major Eurozone economies.
“British holidaymakers planning winter getaways to Spain, Portugal, or European Christmas markets should consider purchasing euros now, as Sterling will likely weaken further before the Budget. For better rates, avoid airport exchanges and opt for pre-loaded travel cards topped up with small amounts of cash for taxis and street market spending.”
03 October 2025
Tony Redondo, of Cornwall-based Cosmos Currency Exchange, said AI is useful for “heavy lifting” tasks such as learning jargon, drafting letters or building a budget.
But he warned: “The danger emerges when clients use AI for specialist advice on irreversible, highly personalised matters like tax, mortgages, pensions, or insurance – where AI hallucinations could have serious consequences.”
03 October 2025
Tony Redondo, from Cornwall-based Cosmos Currency Exchange, acknowledged the usefulness of AI for “heavy lifting” tasks such as learning jargon, drafting letters or building a budget.
15 September 2025
Tony Redondo, Founder at Newquay-based Cosmos Currency Exchange, echoed this sentiment, saying that the Chancellor should, “Recognise the economy is on its knees and don’t bury it completely with yet more tax rises.
“We need to promote economic growth, which means encouraging businesses, not tying them up in ever more taxes and red tape.”
09 September 2025
Tony Redondo, founder of Cosmos Currency Exchange in Newquay, says the 2025 Sovereign is shaping up as a hot ticket. It will be the last to carry the “rose gold” colour before the Royal Mint reverts to traditional yellow next year. “This exclusivity has made the 2025 edition particularly sought after,” he says. For once, scarcity is genuine.
03 September 2025
Tony Redondo, founder at Newquay-based Cosmos Currency Exchange said, “Reeves is the worst Chancellor since Denis Healey, steering the UK toward fiscal delinquency.
“Paradoxically, her departure would likely trigger something worse, guaranteeing a historic debt crisis. Changing the Chancellor now would undermine market confidence by signalling policy chaos. Markets punish uncertainty more than consistency, even when disagreeing with direction.”
He added, “The question isn’t whether Reeves should go, but whether the government can restore fiscal credibility fast enough to prevent a deeper crisis—far more damaging than leadership change.”
30 August 2025
Tony Redondo, Founder at Cosmos Currency Exchange, described the situation as a “moron tax” on the UK and warned of disaster.
He said: “The bond markets have already forced the UK to pay a ‘moron’ tax on its ever-rising debt mountain. The UK is already paying more in interest payments to service its debt than on defence or education. The situation is serious.
“The 10-year gilt yield rose to 4.8%, the highest since 2008, while 30-year gilts climbed to 5.22% on Tuesday, surpassing last year’s peak as borrowing costs surged to their highest level since 1998. The Office for Budget Responsibility (OBR) highlights just how vulnerable the UK position is.
“With net debt around 100% of Gross Domestic Product (GDP), a 1% increase in gilt yields increases debt interest spending by around 1% of GDP (£30 billion in 2024-25 terms) in the long run. With her own party refusing to allow Reeves to cut spending, the only option is yet more tax increases, which will bury the economy. A run on the Pound is almost inevitable. At least we will not be alone as the French will be keeping us company.”
29 August 2025
As summer draws to a close, the global currency markets are about to enter their busiest season of the year. The next three months see a perfect storm of activity: government budget announcements, a flurry of international property transactions, tuition fee payments for overseas study, and a spike in imports from China as businesses gear up for the festive retail season (yes, that season!).
For Cosmos Currency Exchange, this quarter marks the peak demand for their forward contracts – a strategic financial tool used by both personal and business clients to hedge against unpredictable exchange rate fluctuations.
29 August 2025
IPBN member Tony Redondo, on August 18, shared that “the latest UBS Wealth Report shows that global wealth amounts to USD 471 trillion, with the USA contributing 35%, China 19%, Japan 4.5%, just ahead of the UK, Germany, and France. Europe, comprising the EU, UK, Switzerland, Norway, and Turkey, accounts for 22% with 80% of the world’s wealth divided between the USA, China, Europe, and Japan.”
22 August 2025
Tony Redondo, founder of Newquay-based Cosmos Currency Exchange, suggested that prices could plummet to as low as 120p a litre. He said: “This rare good news for UK motorists has a chance to get even better.
“Global oil prices have dropped to $63/barrel, down 13.79 per cent on last year, on weaker demand from China, India, Brazil, and OPEC+ production increases, and oil prices are forecast to fall to $58 in the fourth quarter of this year and to $49 a barrel by March 2026. This could see prices at the pump in the UK drop to 120-125p/litre.
“The backdrop to these forecasts includes global growth slowing due to Trump’s tariffs, China’s EV transition reducing oil demand, and structural oversupply. However, in an unpredictable world, any sharp increase in geopolitical risks could reverse this trend quickly, but the fundamentals point to lower oil prices ahead.”
17 August 2025
Tony Redondo, Founder at Newquay-based Cosmos Currency Exchange, added Labour is in an impossible situation and the private sector could once again bear the brunt of tax rises: “With yields spiking, history looks set to repeat itself with a re-run of the Truss debt crisis of October 2022.
“Bond markets are already signalling their unease with the UK’s fiscal position after Labour’s spending surge, demanding a premium even on 30-year debt amid persistent inflation. Reeves began widening the hole in the public finances on taking office and has continued digging ever since.
“To reassure markets, the government would need to reverse course, slim down the bloated public sector and cut spending. But for a Labour administration tied to the unions, that would be political suicide. Instead, Reeves is likely to squeeze the private sector further with fresh tax rises this autumn, hoping growth and cooling inflation will do the rest.
“One year into Starmer’s premiership, gilt yields stand higher than when he began, a clear sign of market scepticism. The lights are still on at Labour HQ, but nobody is home.”
07 August 2025
Tony Redondo, Founder at Newquay-based Cosmos Currency Exchange, said expanding VAT to exempt items like books or digital services could raise billions, explainging: “What a mess, of her own making. According to the respected NIESR, Chancellor Rachel Reeves must plug a £41.2bn fiscal gap without breaking Labour’s pledge not to raise income tax, VAT, or National Insurance for ‘working people’ and not break her ‘iron-clad’ fiscal rules.
“Five stealth tax strategies include extending the income tax threshold freeze, raising £8.2bn via fiscal drag. She could reform council tax or introduce a land value tax, targeting wealthy landowners. She could expand VAT to exempt items like books or digital services, subtly raising billions.
“She could cut pension tax relief for high earners or capping lump sums, potentially yielding £10–15bn and hiking employer NICs or levying tech/energy firms, generating £5–15bn. Reeves has a near-impossible juggling act this autumn to try and not bury the UK economy or spook the bond markets.”
06 August 2025
Tony Redondo, founder at Cosmos Currency Exchange, said a cut is needed based on what he sees in his local area.
He said: “With the UK’s GDP contracting, unemployment at 4.7 per cent, and inflation at 3.6 per cent but expected to fall, a cut supports growth without fuelling inflation.
“Markets see a 90 per cent chance of a cut, though some MPC members may hold due to inflation fears. Cornwall’s economy is struggling. Tourism numbers are down, including in Truro and St Ives, and cautious visitors are cutting back on their spending, hitting local cafes and shops.
“High streets are facing closures, and SMEs, such as local trades, are pausing investment due to tax hikes and tariff concerns. Fishing, farming, and rural communities are downbeat, but Newquay’s tech startups show resilience where innovation or export markets remain strong.”
05 August 2025
Tony Redondo, Founder at Cosmos Currency Exchange, advised drivers to avoid tourist areas when filling up.
He said: “Petrol prices are rising fast due mostly to a weakening… Local price variations, higher in tourist areas, worsen the pinch”
31 July 2025
Tony Redondo, founder of Cosmos Currency Exchange, warned: “Shortcuts often lead to bigger bills. Skimpy insurance policies may not cover damages, leaving you to pay big out-of-pocket costs.”
29 July 2025
“Petrol prices could rise to 140p to 150p per litre if oil prices or geopolitical tensions escalate, though stabilisation around current levels is possible if supply remains high,” Tony Redondo, founder of Cosmos Currency Exchange, said.
“Filling up now may be prudent for heavy drivers, given the upwards trend, but savings depend on consumption and local price variations,” he added. “Rising costs are driven by oil price volatility, exchange rates, retailer margins and taxes, with potential profiteering by retailers warranting scrutiny.”
25 July 2025
Currently, the Pound is under pressure against the Euro after a hawkish stance from the European Central Bank around interest rates and a potential US-EU trade deal. According to the experts, it is likely to weaken more after falling to its lowest level since 2023. Tony Redondo, Founder of Cosmos Currency Exchange, said: “For Brits travelling to Europe soon, buy now, as it looks more than likely that the Pound may weaken further.
“The Pound has weakened to its lowest level since November 2023 against the Euro due to the ECB’s hawkishness on interest rates and optimism that a trade deal will be struck with the US before Trump’s 30 percent tariffs are due to take effect on 1 August.
“Do not change money at the airport or ferry terminal, but use a travel or pre-pay card as the rates are better. If you regularly visit the continent, consider opening up a Euro-denominated bank account with a debit card as bank account to bank account exchange rates are superior to travel money rates.”
25 July 2025
Tony Redondo, founder of Cosmos Currency Exchange, says: “For Brits travelling to Europe soon, buy now, as it looks more than likely that the Pound may weaken further.
“The Pound has weakened to its lowest level since November 2023 against the Euro due to the ECB’s hawkishness on interest rates and optimism that a trade deal will be struck with the US before Trump’s 30% tariffs are due to take effect on 1 August.
“Do not change money at the airport or ferry terminal, but use a travel or pre-pay card as the rates are better. If you regularly visit the continent, consider opening up a Euro-denominated bank account with a debit card as bank account to bank account exchange rates are superior to travel money rates.”
21 July 2025
Tony Redondo, Founder at Cosmos Currency Exchange, shared much the same view: “Silver’s rally is robust, fuelled by strong supply and demand fundamentals including industrial demand for solar and EV’s, supply deficits, safe haven buying amid geopolitical tensions, expected Fed interest rate cuts, rising inflation and a high gold to silver ratio suggesting silver is still underpriced. Diversifying via ETFs or physical silver may suit most investors, while futures are riskier.”
17 July 2025
Her views were echoed by Tony Redondo, Founder at Cosmos Currency Exchange, who said: “This smacks of pure desperation after a year to forget for Labour, back in power after a 15-year absence.”
14 July 2025
Meanwhile, Cosmos Currency Exchange founder, Tony Redondo, explained that Dubai’s first-time buyer scheme offers flexible payment plans and early access to properties under £1mn.
However, he specified that UAE’s residency requirements and a potential price correction by 2026 “may need to be borne in mind”.
10 July 2025
Meanwhile, Tony Redondo, founder at Cosmos Currency Exchange, said: “The FTSE 100’s record high is being driven by a cocktail of factors”.
He added: “A weaker pound is one key driver, with approximately 75 per cent of FTSE 100 company revenues coming from overseas, while undervaluation, strong sector performances like Defence and Bank of England rate cut expectations.
“Technicals suggest upside of to 9,000–9,800 in 2025, but risks like inflation, trade policies and economic slowdowns warrant caution. Investors should prioritise diversified, income-focused strategies, monitor macro developments and maintain a long-term outlook to capitalise on the index’s potential.”
10 July 2025
Tony Redondo, Founder at Cosmos Currency Exchange, said: “The FTSE 100’s record high is being driven by a cocktail of factors”.
He added: “A weaker pound is one key driver, with approximately 75% of FTSE 100 company revenues coming from overseas, while undervaluation, strong sector performances like Defence and Bank of England rate cut expectations.”
However, he warned: “Risks like inflation, trade policies, and economic slowdowns warrant caution. Investors should prioritise diversified, income-focused strategies, monitor macro developments and maintain a long-term outlook to capitalise on the index’s potential.”
09 July 2025
However, Tony Redondo, founder at Cosmos Currency Exchange, predicts France will actually be more likely to be the first to crack down on Airbnb.
He explained: “Spain, under socialist PM Sánchez, stands alone in its strict Airbnb restrictions. Centre-right governments in Italy, Portugal, Croatia, Greece, and Austria are unlikely to follow, given their opposing political stance.
“Italy’s Airbnb regulations are far less stringent than Spain’s crackdown, which resulted in the delisting of 66,000 properties.
“France may emulate Spain’s approach, potentially harming its tourism industry by raising traveller costs, reducing flexibility, and burdening property owners with extra compliance costs and taxes.”
09 July 2025
Tony Redondo, founder at Cosmos Currency Exchange, predicted that France is even more likely than Italy to be the next to crack down on Airbnb.
“Italy’s Airbnb regulations are far less stringent than Spain’s crackdown, which resulted in the delisting of 66,000 properties. France may emulate Spain’s approach,” he said.
09 July 2025
Tony Redondo, Founder at Cosmos Currency Exchange, predicted it would actually be France that is more likely to be the first to crack down on Airbnb.
He added: “Spain, under socialist PM Sánchez, stands alone in its strict Airbnb restrictions. Centre-right governments in Italy, Portugal, Croatia, Greece, and Austria are unlikely to follow, given their opposing political stance.
“Italy’s Airbnb regulations are far less stringent than Spain’s crackdown, which resulted in the delisting of 66,000 properties.
“France may emulate Spain’s approach, potentially harming its tourism industry by raising traveller costs, reducing flexibility, and burdening property owners with extra compliance costs and taxes.”
08 July 2025
“The pound is down against all major currencies,” said Tony Redondo, founder of Cosmos Currency Exchange. “Gilt yields are now spiking above Liz Truss levels — this is serious. The Chancellor’s fiscal headroom is shrinking by the hour.”
08 July 2025
Tony Redondo, who runs Cosmos Currency Exchange, says petrol prices could shoot up if oil hits $100 a barrel.
He explained that oil prices have already gone up by 3% in the last two weeks because of trouble in the Middle East and shops charging more to cover their costs.
“There is also speculation that fuel duty may be increased for the first time since 2011 in October’s budget, even though taxes already account for 60% of petrol prices at the pump.
“Prices could rise to 150 per litre if oil prices rocket to $100 if the Iran-Israel conflict reignites or Iran closes the Straits of Hormuz,” he added.
04 July 2025
Two beautiful European countries are already on track to benefit from Spain’s new wave of sweeping regulations on short-term rentals. Earlier this week, July 1, Spain’s new rules state that any property advertised for short stays on platforms such as Airbnb or Booking.com must be officially registered to operate legally.
As a result Brits looking to purchase a holiday home abroad to rent out will now turn their heads to other countries with more relaxed rules. Italy and Portugal are “poised to benefit”, says Tony Redondo, Founder at Cosmos Currency Exchange, boosting tourism and property tax revenue in their respective countries. This could massively backfire on Spain who consequently risk losing billions of euros.
He told the Express: “Portugal’s Algarve and Lisbon, with streamlined licensing and tax incentives, have seen a 10% uptick in foreign property investment since Spain announced these new regulations.
“Italy’s flexible rules, especially in regions like Tuscany and Puglia, are drawing investors with promises of higher yields and fewer regulatory hurdles.”
“These shifts could boost tourism revenue in both countries by 5-8% annually, while Spain risks losing €1-2 billion in tourism income by 2027.”
Mr Redondo says the new laws will delist an estimated 30-40% of short-term rentals in popular tourist hotspots like Catalonia and the Balearic Islands. This will cause holiday prices for some of our favourite destinations to shoot up by up to 25%.
He said: “This sharp reduction in supply is likely to push accommodation prices up by 15-25% in hotspots such as Barcelona, Mallorca, and Costa del Sol, particularly during peak seasons.
“Hotels, facing less competition, may also raise rates, impacting budget-conscious tourists the most.
“British buy-to-let owners, who own roughly 20% of Spain’s short-term rental market, face significant challenges. Compliance with new licensing, safety, and tax requirements could cost €5,000-€10,000 per property, prompting many to pivot to mid-term rentals (three- sixmonths) targeting digital nomads or to sell entirely.
“However, mid-term rentals yield 30-50% less revenue than short-term lets, creating financial strain.
“Also, Spain’s socialist-led coalition government submitted a draft bill to the Spanish Congress in May to implement a 100% tax on property purchases by non-resident, non-EU nationals, a measure first proposed by Prime Minister Pedro Sánchez in January and some may feel Spain has decided to bite the hand that has fed it so well for so long.”
Properties that did not comply by the July deadline have been removed from online platforms like Airbnb and Booking.com, with hosts risking fines, being banned from re-listing, and facing potential delays if they attempt to rejoin later.
04 July 2025
Tony Redondo, Founder at Cosmos Currency Exchange, went on: “The Pound hit a 4-year high versus the US Dollar due to USD weakness from Trump’s Fed pressure, geopolitical tension easing, and interest policy differentials between the Bank of England and the Fed.
“Against the Canadian Dollar, the Pound hit a post-Brexit vote high as oil prices have dropped by over $10 a barrel in the last week. Now is an excellent time to buy both USD and CAD as the Pound could come under pressure this week if Starmer gets a thumping in Tuesday’s Benefits Bill vote.
“The markets hate political instability above all else. The Pound is muted against the Euro, which has benefited from capital inflows from US investors since Trump’s ‘Liberation Day’ tariffs announcement in April.”
04 July 2025
“Landlords are fleeing the UK private rented sector, driven by the Renters’ Rights Bill, tax hikes, high interest rates, and other requirements like the EPC. Many are flipping properties or investing in overseas BTL markets like Florida, South Africa, Portugal, and Dubai, chasing 6–10% yields, tax-free income, fewer regulations, and the currency advantage, for example, with the Pound hitting a near four year high against the Dollar this week for better returns. This exodus risks tightening UK rental supply further, pushing rents ever higher.”
03 July 2025
Meanwhile Tony Redondo, Founder at Cosmos Currency Exchange says the new law has already caused prices in holiday hotspots to soar by 20%.
“Spain’s new Airbnb law will delist thousands of short-term rentals. British buy to let owners face income loss when the unlicensed properties are removed. Those who try and register will face higher compliance costs or have to sell”, said Tony.
03 July 2025
Tony Redondo, of Cosmos Currency Exchange, said prices could go up by as much as 20% due to the new laws.
02 July 2025
Tony Redondo, Founder at Cosmos Currency Exchange, said prices could be raised by up to 20% in hot spots due to the law. BristolLive quoted him as saying: “Spain’s new Airbnb law will delist thousands of short-term rentals. British buy to let owners face income loss when the unlicensed properties are removed. Those who try and register will face higher compliance costs or have to sell.
“Pivoting to mid-term rentals for digital nomads is an option. Reduced short-term rental supply could raise prices by up to 20% in hotspots, pushing tourists to hotels. Other countries with more relaxed short-term rental rules, like Portugal and Italy, will attract investors, boosting tourism and property tax revenue.”
02 July 2025
Tony Redondo, Founder at Cosmos Currency Exchange, said prices could be raised by up to 20% in hotspots due to the law.
He added: “Spain’s new Airbnb law will delist thousands of short-term rentals. British buy to let owners face income loss when the unlicensed properties are removed. Those who try and register will face higher compliance costs or have to sell.
“Pivoting to mid-term rentals for digital nomads is an option. Reduced short-term rental supply could raise prices by up to 20% in hotspots, pushing tourists to hotels, especially in Barcelona.
“Other countries with more relaxed short-term rental rules, like Portugal and Italy, will attract investors, boosting tourism and property tax revenue.”
01 July 2025
Tony Redondo, Founder at Cosmos Currency Exchange, said: “The UK has already reduced its carbon emissions by over 50% since 1990. Customers need another price increase like a hole in the head. It worsens affordability for all, households and businesses alike.
“And without coordinated international action, it’s meaningless with the likes of China constructing two new coal-powered plants per week as they add 94.5 gigawatts (GW) of new coal power capacity, the highest since 2015, representing about 19 times more than the rest of the world combined.”
26 June 2025
Tony Redondo, Founder at Cosmos Currency Exchange stated: “Homes England’s 2024/25 data falls woefully short of Labour’s 1.5M homes target by 2029, with just 37% of the 300,000 annual completions.
!England’s 2023/24 completions were just 33% of the 450,000 needed by 2028/29. Structural barriers like slow planning, labour shortages, and land scarcity persist.
“This supply shortage will not curb house price growth. Savills forecasts an £84,000 average price increase by 2029. The longstanding supply shortages combined with ever-increasing demand will keep prices climbing, hitting first-time buyers hardest.”
26 June 2025
The Government’s new Industrial Strategy ‘too late’ for many businesses, experts warn.
The announcement has been met with criticism, as Tony Redondo, Founder at Cosmos Currency Exchange called it “too late” and claimed it “has more holes in it than a kitchen colander”.
He explained: “To give this Labour government credit, this is an ambitious strategy, leveraging clean energy and tech to create 1.1m jobs, cut electricity costs by 25% for 7,000 firms by 2027, and boost R&D to £22.6bn by 2029-30, including £2bn for AI.
“In the real world, UK businesses need relief now. Relief from the highest tax take since the 1940s, high interest rates and energy costs.
“Besides, this strategy has more holes in it than a kitchen colander, including vague metrics, regional imbalances, and retail/hospitality exclusion. In any case, energy cuts have come too late with firms facing 60-100% higher electricity costs.”
24 June 2025
Tony Redondo, founder at Cosmos Currency Exchange, has said it would be “wise for consumers to fill up their tanks now” as even a partial closure of the Strait of Hormuz would have an “immediate and significant” impact on petrol prices.
The expert said the closure could spike Brent crude up 15% to over $80/barrel, pushing prices to 152p/litre very quickly, The Sun reported.
Mr Redondo als warned a full closure could see oil hit $100-$150, driving petrol up towards £2/litre, saying: “That’s why now could be a smart time to fill up your tank before any further hikes come into effect.”
Please note, you should only fill up your tank if you believe you need to – and most importantly, if you can afford it.
23 June 2025
The price of petrol is currently at 132.06 per litre, but experts fear that this could rise further if the Strait closes.
In light of the news, Tony Redondo, founder at Cosmos Currency Exchange said it would be “wise for consumers to fill up their tanks now”.
He explained: “The effect at the petrol pumps of even a partial closure of the Strait of Hormuz would be immediate and significant”.
Tony said the closure could spike Brent crude, up 15% to over $80/barrel, may push prices to 152p/litre very quickly.
He also warned a full closure could see oil hit $100-$150, driving petrol up towards £2/litre.
He said: “That’s why now could be a smart time to fill up your tank before any further hikes come into effect.”
However, it is important to only fill up your tank if you need to and if you can afford it.
Markets also fluctuate on a regular basis, so if oil prices spike it does not mean it won’t edge down at a later date.
23 June 2025
The Labour Government has revealed its Industrial Strategy, a 10-year plan to boost investment and create good skilled jobs.
The plan includes electricity costs for 7,000 businesses to be slashed by up to 25%, along with supporting 1.1 million new well-paid jobs over the next decade.
It will also boost research and development spending to £22.6 billion per year by 2029-30 to drive innovation – including £2 billion for AI.
However, the announcement has been met with criticism, as Tony Redondo, Founder at Cosmos Currency Exchange called it “too late” and claimed it “has more holes in it than a kitchen colander”.
He explained: “To give this Labour government credit, this is an ambitious strategy, leveraging clean energy and tech to create 1.1m jobs, cut electricity costs by 25% for 7,000 firms by 2027, and boost R&D to £22.6bn by 2029-30, including £2bn for AI.
“In the real world, UK businesses need relief now. Relief from the highest tax take since the 1940s, high interest rates and energy costs.
“Besides, this strategy has more holes in it than a kitchen colander, including vague metrics, regional imbalances, and retail/hospitality exclusion. In any case, energy cuts have come too late with firms facing 60-100% higher electricity costs.”
23 June 2025
Tony Redondo, founder at Cosmos Currency Exchange, believes “energy prices could go up £150-200 a year” following the conflict in Iran.
The finance expert told Newspage: “The pound, now seen as a risk-based currency, could weaken, raising import costs for food and travel. Petrol prices may rise 5-50p per litre, inflating transport and goods prices. Energy bills could jump £150-£220/year, worsening the cost-of-living crisis.”
19 June 2025
Tony Redondo, founder of Cosmos Currency Exchange told The Sun that factors such as “soft UK economic data” and “rising geo-political tensions” is pushing the Pound to Euro exchange rate lower.
Inflation fell to 3.4% in the 12 months to May, raising expectations the Bank of England could cut interest rates tomorrow, June 19.
This can lower the value of the Pound as investors seek to get higher returns elsewhere.
With this in mind, Tony said that holiday goers heading to Europe before the end of the month, should buy Euros “soon”.
He said: “It might be best to buy soon to protect from any further possible downside.”
But the money expert said that those not travelling until the end of school holidays have no need to panic.
He said: “A calculated gamble would be to wait it out as the world moves at such a pace nowadays, that hopefully, the Pound has time to recover.
“After all, in 17 out of the last 20 years, the Pound has gone up in value against the Euro in either July or August. “
18 June 2025
If you’re jetting off to Europe in the next month, buy euros as soon as possible, says Tony Redondo, founder of Cosmos Currency Exchange.
The euro has been strengthening against the pound in recent weeks – meaning each £1 won’t go so far – and there is likely to be more to come.
It has benefited from US tariff policy, which has made investors nervous about buying dollars.
Money has instead flooded into European investments, which have been seen as a safer option in an uncertain climate. That has pushed up the value of the euro – not only against the dollar, but sterling as well.
The pound could weaken further against the euro due to a poor economic outlook in the UK. Last week there was a sharp drop in the pound’s value following unexpectedly dire official data, which revealed the economy shrank by 0.3 pc in April.
This could force the Bank of England to cut rates as soon as August, which could spell further bad news for our currency.
Mr Redondo says: ‘Until last week, the view in the markets was for the Bank of England to cut interest rates maybe one more time in 2025. This week has changed that, with two cuts now forecast.’
16 June 2025
Tony Redondo, founder at Cosmos Currency Exchange, warned of an end to the relative downturn of the price of fuel at the pump for Brits.
He said: “Global oil prices are up, hitting their highest price in almost five months after Israel struck Iran, dramatically escalating tensions in the Middle East and raising worries about disrupted oil supplies.
“That’s the end of the cheapest petrol prices in the UK for four years. Gold has been up to a one-month high as the markets swing to risk aversion mode. Stock markets will sell off. These are all predictable knee-jerk reactions.”
15 June 2025
But Tony Redondo, Founder of Cosmos Currency Exchange, believes businesses have seen the downturn in the economy coming.
He added: “The 0.3% contraction validates what business surveys have been signalling. A recipe made up of the highest tax take since the 1940s, rising inflation and weak consumer confidence as the jobs market weakens, combines to create a perfect storm for UK businesses.
“Businesses have been seeing weakening demand for months. The Employment Index is at a near-thirteen-year low. Businesses are not replacing leavers and are reluctant to hire after the rise in employer NICs and the minimum wage, plus the new employment bill, limiting economic momentum.”
13 June 2025
Tony Redondo of Cosmos Currency Exchange said: “Stock markets will sell off. These are all predictable knee-jerk reactions.
“What happens next in the financial markets will depend on the scale of Iran’s response. They will talk a good game, but do they have the capacity actually to damage Israel? Probably not.”
13 June 2025
IPBN member Tony Redondo announced that Cosmos Currency Exchange has been named a finalist in the 2025 Allica Bank Great British Entrepreneur Awards, shortlisted in the Global Entrepreneur of the Year category! “Known as “The Grammys of Entrepreneurship,” the awards celebrate the most exceptional and inspiring business stories across the UK. This year’s shortlist includes over 800 entrepreneurs from every nation and region of the UK, all recognised for their innovation, impact and resilience.”
13 June 2025
The boss of a currency exchange platform, which supports firms working across borders but does not itself hire offshore home workers, told City AM he had seen a 43 per cent increase in overseas payments over the last six months.
“The feedback from many of my business clients is also to hire overseas remote workers when it’s feasible,” Tony Redondo of Cosmos Currency Exchange said.
“It’s partly down to taxes, partially down to the new Employment Rights Bill.”
2nd June 2025
However, Cosmos Currency Exchange founder, Tony Redondo, cautioned there are “two sides to this coin”.
“On the one hand, licensing finfluencers would help protect consumers from bad advice, fill regulatory gaps, and boost trust,” he explained.
“On the other hand, this move risks stifling free speech, enforcement is tough and existing rules may suffice.”
Redondo therefore advised that the solution may therefore be “nuanced” and argued that there should be strict licensing for those giving specific investment advice, but lighter oversight for educational content.
19th May 2025
Tony Redondo, founder at Cosmos Currency Exchange says: “The 11 million consumers may cheer the new BNPL (Buy Now, Pay Later) rules, gaining affordability checks, section 75 refunds and FOS access to curb debt. This is vital amid an economic climate with inflation set to rise to 3.7%, rising unemployment and meagre economic growth of 0.75% but the 2026 delay risks festive overspending.
“BNPL firms like Klarna brace for compliance costs. Retailers may well fear sales dips with Klarna’s 22,000 partners already feeling the squeeze.
“The FCA aims to tame the ‘wild west,’ yet over-regulation might choke fintech innovation, leaving low-income users reliant on fewer choices and costlier loans. Meanwhile, systemic issues like housing unaffordability fuel BNPL reliance, urging broader reforms.
“Balancing consumer safety with market vitality remains the challenge.”
19th May 2025
Tony Redondo, founder at Cosmos Currency Exchange, said: “Over-regulation might choke fintech innovation, leaving low income users reliant on fewer choices and costlier loans.”
He said the impact would extend to “balancing consumer safety with market vitality remains the challenge” as systematic issues, such as housing unaffordability, fuel BNPL reliance.
2nd May 2025
Tony Redondo, founder of Cosmos Currency Exchange, was less optimistic.
He said: “The Bank of England’s May 8 decision is critical – further cuts might inflate a bubble, while systemic issues like nine-times earnings affordability and wage stagnation must be tackled to prevent a crash.”
24th April 2025
IPBN member Tony Redondo asked, “Is the chaos over? Is the market chaos of the last few weeks abating or was it only the opening shot of something much bigger. Are we just in a trade war or in a fight for the 21st century.”
19th April 2025
Tony Redondo of Cosmos Currency Exchange warned: “This rally still has legs. Investors are spooked, and gold’s their bunker.”
16th April 2025
Tony Redondo, founder of Cosmos Currency Exchange, said: “Historically, investing rules hinge on diversification, long-term focus, and fundamentals. Principles that have weathered recessions and geopolitical shocks down the ages. Trump’s unpredictability hasn’t rewritten these investing rules but amplified their urgency.”
He suggests having cash buffers that allow you to buy on dips, and a long-term focus, adding: “Protect portfolios by diversifying across assets and regions, focusing on quality stocks, and using dollar-cost averaging. Consider hedging with gold and bonds—gold’s up 15 per cent this year but is predicted to rise further. In this era of Trump-driven volatility, the best investors aren’t just reactive—they’re prepared.”
11th April 2025
Tony Redondo, founder at Cosmos Currency Exchange called the high gold prices a “screaming signal of market fear”.
He said: “With the dollar tanking, gold is cheaper to buy for non-USD holders, adding fuel to this safe-haven rally.
10th April 2025
Tony Redondo, Founder of Cosmos Currency Exchange, pointed out that while the bond markets had not directly forced the billionaire’s hand, they had amplified the chaos caused by his tariffs. He noted that the US Treasury yields had dipped significantly, reflecting a broader flight to safety by investors.
Mr Redondo said: “Trump’s no bond nerd, but the author of the book ‘The Art of the Deal.’ Trump reads panic—stocks surging 7% post-pause shows he dodged a deeper meltdown.” He argued that while Mr Trump had not completely backed down, he had stepped back strategically to maintain leverage in his negotiations.
In his public statements on Tuesday, Mr Trump continued to frame the tariff pause as part of his broader economic strategy. He maintained that the 90-day delay would allow the US to assess the impact of the tariffs on global trade and give countries time to negotiate.
Mr Redondo suggested that his decision to pause the tariff increases was a prudent move that would ultimately strengthen America’s position in future negotiations.
9th April 2025
Tony Redondo, Founder at Cosmos Currency Exchange added, “The Pound is a volatile cocktail. It’s down to €1.15, a 15-month low against the Euro and treading water against the US Dollar and at decade-plus highs against the likes of the Aussie and Kiwi Dollars and SA Rand. Wild swings in markets continue as traders grapple with pricing the impact of the trade war.
“As investors move funds away from the Dollar, it is increasing liquidity in the Euro that is continuing to shield it from the heightened volatility seen in the markets.
“The Pound’s fate hinges on the trade war’s next act. Short-term, it’s a tug-of-war: the UK’s “light” 10% tariff sparked some relief buying, briefly hitting a 6-month high last week before the US Dollar flexed, buoyed by Trump’s growth bets and Fed caution. If Trump escalates—or the EU and China hit back harder—the Pound could slide to $1.21, especially if UK growth falters more.
“Yet, a de-escalation (say, Trump’s team eyeing “critical imports only” tariffs) could lift it to $1.3250. Volatility is the only sure bet.”
9th April 2025
Tony Redondo, Founder at Cosmos Currency Exchange said, “In today’s market, finding a safe haven is like trying to light a candle in a hurricane. Trump’s tariffs have sparked a global sell-off, with the FTSE 100 down 10%+ in days, the S&P 500 losing $5 trillion and recession odds spiking. Conventional investor wisdom—stocks for growth, bonds for safety—is wobbling as volatility soars.
“Gold remains a relatively safe haven as it typically thrives amongst chaos. Defensive stocks like consumer staples offer some shelter, too, though tariff fallout could still sting. Small-cap UK firms less exposed to international trade is another option as we’re in seriously uncharted waters. Tariffs will shrink corporate margins and rate cuts might not save growth in the short term.
7th April 2025
Tony Redondo, the founder of Cosmos Currency Exchange, warned: “Trump’s tariffs could double the cost of iPhones in the US if Apple passes on the full whack of the 54% China tariff. That’s a $799 iPhone 16 rocketing up to $1,598 or a $1,599 Pro Max hitting $3,200. In the UK, Apple might dodge a direct hit as tariffs don’t apply to imports here but don’t expect prices to stay put given input cost rises.
“Apple could spread the pain globally, nudging UK prices up by, say, 20% (think £799 to £959) to offset US losses without tanking demand. People might rush to buy now, especially in the US, to beat the hike. But Apple’s cagey; they might eat some costs or snag exemptions. Either way, wallets will wince.”
3rd April 2025
“Trump’s tariffs including 25% on Canada/Mexico, 20% on the EU, 10%+ on China and 10% on the UK could hit US firms hard. Semiconductor giants like Nvidia face cost hikes from imported chips; Intel may gain but isn’t immune. China’s retaliation on rare materials could worsen shortages. Automakers like GM and Ford might see car cost jumps, risking sales if prices rise or exports drop due to retaliation. PC makers (Dell, HP) could face 10-25% cost increases, adding $200-$500/unit, pushing prices up or margins down. AI server firms (Nvidia, Amazon) may see delays and millions in extra costs from pricier chips and steel. Retailers like Walmart and construction could also suffer. Short-term: higher costs, chaos. Long-term: maybe more US manufacturing, but labor and infrastructure lag. Firms with domestic roots (Tesla, Intel) fare better; most feel the squeeze. Consumers face pricier goods by late 2025 unless companies absorb costs—which is rare.”
2nd April 2025
Tony Redondo, Founder at Cosmos Currency Exchange added, “This is a stock picker’s market, not an index fund snooze. Dividend payers and the FTSE 250 make sense for safety, but the real edge comes from agility—hedging with gold, grabbing value in dips, and betting on policy-driven sectors.
“Trump’s Rose Garden speech today is stirring the pot, and the uncertainty kicking up globally is palpable. With tariffs, trade shocks and policy flip-flops dominating headlines, markets are jittery. Volatility’s not just a buzzword here—it’s the game. It’s absolutely an opportunity—if you’ve got the stomach and the strategy.
“Right now, with Trump’s “will he, won’t he” tariff dance—20% on China’s locked in, Canada and Mexico are on-again-off-again—markets overreact both ways. That’s the window. Short-term traders could scalp those swings, while long-term players might scoop up oversold quality stocks when panic dips hit. Superior returns are possible, but it’s less about picking winners and more about dodging losers while riding the waves.”
31st March 2025
“The UK’s flagship FTSE 100 index is particularly vulnerable this week. It’s already shed 4.2% since mid-March and could fall another 10% if tariffs hit, though UK insulation might limit losses if Trump spares Britain,” says Tony Redondo, founder at Cosmos Currency Exchange.”
26th March 2025
Tony Redondo, Founder at Cosmos Currency Exchange commented: “This feels like Reeves trying to play chess while everyone wants a rugby match.”
“There were strategic moves such as defence and fiscal discipline that might pay off later, but the crowd’s restless now. The Office for Budget Responsibility halving the 2025 UK growth forecast from 2% to 1% is a gut punch to Labour’s flagship growth mission.”
“Welfare hits will bite and the optics of “tough choices” might not land well when growth is stalling. A £2.2 billion defence uplift for 2025-26, pushing spending to 2.36% of GDP, is the headline grabber but it’s still shy of what Trump is demanding, and critics will call it a shiny distraction from domestic woes.”
“The Pound’s sulking. Reeves is blaming everyone else and banking on our patience but with stagflation whispers (inflation up to 3.7% later this year per BoE forecasts), it’s yet another gamble. For me, too little, too late. If she was a Tory Chancellor, she would be gone by now.”
20th March 2025
Tony Redondo of Cosmos Currency Exchange disagrees, predicting: “The MPC loves a slow dance, so they won’t cut today. The data’s not screaming for it. Should they? If they prioritised growth over inflation, maybe – but inflation hawks are in control.”
19 March 2025
Cosmos Currency Exchange founder, Tony Redondo, pointed out this is “no small problem” as 2.4mn over-65s use cash, according to Age UK, and 1.5mn UK adults used cash daily in 2023 – a four-year high according to the Financial Conduct Authority.
“Legally, shops can refuse to take cash even though it’s legal tender,” he said.
16 March 2025
When economists and business owners bump into each other down the pub, they will have plenty to talk about. Tony Redondo, for example, Founder of Cosmos Currency Exchange, says, “At best, Friday’s MOT on the UK economy will show lots of advisory notes; at worst, the car will be ready for salvage by the end of the second quarter once the tax rises hit home. The UK economy’s limping along, with a knackered gearbox that is stuck between neutral and first gear.”
14 March 2025
“Though it feels like a psychological threshold, gold at $3,000 might just be a stepping stone if trade wars deepen,” said Tony Redondo, founder of Cosmos Currency Exchange. “That said, it’s not all about Trump. Central banks, interest rate bets, geopolitical tensions, and inflation concerns are all stoking the flames.”
13 March 2025
‘For me, the dud desk is the one parked next to the loo,’ adds Tony Redondo, of currency exchange firm Cosmos. ‘Every flush is a grim reminder of your place in the pecking order.’
13 March 2025
Tony Redondo, Founder at Cosmos Currency Exchange, likened the UK economy to a failing vehicle. “At best, Friday’s MOT on the UK economy will show lots of advisory notes; at worst, the car will be ready for salvage by the end of the second quarter once the tax rises hit home. The UK economy’s limping along, with a knackered gearbox that is stuck between neutral and first gear.”
6 March 2025
Tony Redondo, Founder at Cosmos Currency Exchange commented: “803 hours and counting. That is how many hours of UK bank app disruptions clients have suffered since January 2023. Today was the turn of Santander’s bank app outage completely blocked mobile banking access for clients. It’s a minimum of 158 IT failure incidents at banks affecting millions of customers in this period. Reports cite login and payment issues, with Santander confirming mobile, phone, and card service failures.”
4 March 2025
Tony Redondo, founder at Cosmos Currency Exchange said: “The 2021 shift to Abrdn, ditching vowels in a quirky nod to modernity, drew mockery for being unreadable and pretentious, alienating clients and investors alike. Today’s announcement is a pragmatic retreat from a branding experiment gone awry. With £508 bn of client funds under management, clarity trumped quirkiness. Aberdeen has been through a rough patch with its share price down 30% in five years and £1.7 bn in 2024 of outflows, so the return to its Scottish roots may steady its image and trust. Markets might shrug, but it could curb client loss. For the company and its shareholders’ sake, let’s hope it’s smart damage control and not too late.”
28 February 2025
Tony Redondo, founder at Cosmos Currency Exchange, added that with multiple banks hit at once, it “suggests a shared system issue”.
28 February 2025
“This isn’t isolated; recent glitches such as Barclays hint at UK banking fragility,” says Tony Redondo, founder at Cosmos Currency Exchange.
“It’s a strained system—banks must rethink capacity, not just react. Until then, we’re all just crossing our fingers that the app loads next time pay day rolls around.”
13 February 2025
Tony Redondo, founder of Cosmos Currency Exchange said: “Watt has been outspoken on government inefficiency, so there may be some sincerity behind his message.
However, without real influence or policy leverage, it’s unclear how much impact this “shadow” entity can have beyond media attention and debate.
Even if it’s primarily a PR stunt, if it sparks a broader discussion on government efficiency, productivity and wasteful spending, it will be really worthwhile given the level of taxation and government waste in the UK.”
07 February 2025
Savers warned ‘window may be closing’ after BoE decision – What to do next
Tony Redondo, Founder at Cosmos Currency Exchange, acknowledged that the cut, alongside upcoming tax changes and rising costs in April, could “pose challenges for savers”.
06 February 2025
Tony Redondo, Founder at Cosmos Currency Exchange commented: “The Bank of England cut rates by 0.25% to 4.5% at lunchtime today with 7 of the 9 MPC members voting in favour of the move.
Two members voting for a 0.5% cut shows the level of concern about the state of the UK economy. Borrowers should benefit from lower mortgage and business loan costs, while savers face weaker returns. The pound may weaken across the board, helping exports but increasing import costs and possibly fuelling inflation further.
The FTSE100 was already at an all-time record high before the announcement and could see the rally continue as equities become more attractive, while bond yields may fall. The property market may see higher demand due to cheaper mortgages, especially before April’s rise in stamp duty rates. I doubt it is enough to rescue the UK economy from its recession watch but businesses may invest more, even with rising inflation risks. The cut eases financial conditions but poses challenges for savers and inflation control.”
05 February 2025
Tony Redondo, founder of Cosmos Currency Exchange, said investors were seeking safety amid “market uncertainty, geopolitical risks and Trump’s policies”.
“Future Fed cuts, increasing trade tensions and political instability could push gold past $3,000. While a pullback is always a possibility, as a stronger US dollar may limit gains while profit taking could trigger corrects, the current volatility would suggest otherwise.”
31 January 2025
We published a new Podcast with IPBN member Tony Redondo ACIB of Cosmos Currency Exchange Ltd on how to solve currency exchange headaches and tackle international payment pain points! Very interesting conversation with Ellis, IPBN Content Manager, for everyone who are dealing in multiple currencies.
20 January 2025
Tony Redondo, Founder of Cosmos Currency Exchange:
“The ‘golden quarter’ of retail – October through December – was marred by a 0.3% monthly drop in December, alongside falling inflation to 2.5%.
Analysts are divided on next steps, but a rate cut of at least 0.25% seems inevitable.
The broader challenge will be balancing growth stimulation with underlying inflationary risks.”
14 January 2025
It will be great news for the likes of Portugal, Italy and Greece, says Tony Redondo of Cosmos Currency Exchange.
“This change, along with the scrapping of the Golden Visa in April, will make Spain far less attractive for non-EU buyers seeking residency through property investment,” he says.
“Prospective expats must factor in increased costs and navigate more complex residency processes, as alternative visa options like the non-lucrative visa require proof of sufficient income. High-value property demand should drop.”
13 January 2025
Tony Redondo, founder at Cosmos Currency Exchange, said this could go all the way down to $1.15.
“The pound has already fallen by over 2.5% against the Euro and by nearly 5% against the Dollar since Christmas,” he said in comments provided to Money by Newspage.
“Further falls are expected across the board. They are expected to be more muted against the Euro given the stagflation fears that hover over the Eurozone economy and the political paralysis in its two leading economies, Germany and France.
Against the Dollar, the Pound could continue to freefall.
Last Friday’s stellar employment data only adds to the idea gripping the markets that the Federal Reserve will move slowly in cutting interest rates in the US in 2025 in an economy that continues to outperform.”
13 January 2025
DEBT CHAOS
What market turmoil means for your money including pensions, mortgages and savings.
Tony Redondo, founder at Cosmos Currency Exchange said:
“The Pound has already fallen by over 2.5% against the Euro and by nearly 5% against the Dollar since Christmas.
Further falls are expected across the board.
Add in the fact that Trump’s inauguration is now just over one week away and the negative economic effect his tariff plans could have on both the UK and Eurozone economies could see the Pound trade at $1.15 or lower against the greenback.”
9 January 2025
IPBN member Tony Redondo said, “The Pound Sterling was 2024’s Second-best Performing G10 Currency. Bank of England Governor Andrew Bailey hinted at possible rate cuts in 2025, with markets pricing in three cuts. Lower rates may not do the Pound Sterling any favours, but they could rescue the UK economy by stimulating economic activity.”
And stay tuned. We are preparing a Podcast with Tony to be shared later this month about the risks of managing your investment portfolio and financial situation in different currencies.
16 December 2024
Tony Redondo, Founder at Cosmos Currency Exchange, pointed to recent research by Julian Jessop, economics fellow at the IEA, who said the UK should be placed on “recession watch”.
Mr Redondo warned: “The situation may be even more dire, with the spectre of stagflation looming over the economy … Businesses should prepare for an extremely challenging economic landscape ahead.”
05 December 2024
Tony Redondo, founder at Cosmos Currency Exchange warned: “The French are experiencing a Gallic version of a Greek tragedy.
Last week French bond yields already hit Greek cost levels and their widest margin against German bunds since 2012.
Mr Redondo likewise anticipated the value of the Euro to sink to levels not seen against the point since before the 2016 Brexit referendum.
The removal of Barnier following a no-confidence vote could see the Euro sink lower, hitting levels not seen against the Pound since before the Brexit vote of June 2016.”
02 December 2024
Tony Redondo, founder of Cosmos Currency Exchange, told Express.co.uk, “Confidence has been sapped in countless sectors of the economy, and this is shown in the CBI’s latest report. Nothing could have prepared us for the brutal anti-business Budget announced on 30 October by Rachel Reeves.
“We’ve seen a 35% increase in business clients shelving their expansion plans, be it premises, capital equipment or staffing. Roughly 25% of them are seriously looking to relocate overseas.”
06 November 2024
And Tony Redondo, founder of Cosmos Currency Exchange, concludes: “Though a rate cut could stimulate growth in a challenging environment, and some analysts are predicting that the Monetary Policy Committee will lower the base rate by a quarter-point to 4.75%, there are concerns that the new government’s first Budget may push up inflation. Recent data showed a drop in the headline inflation rate to 1.7%, the lowest since April 2021, and easing wage growth.
04 November 2024
Though a rate cut could stimulate growth in a challenging environment, and some analysts are predicting that the Monetary Policy Committee will lower the base rate by a quarter-point to 4.75%, there are concerns that the new government’s first Budget may push up inflation. Recent data showed a drop in the headline inflation rate to 1.7%, the lowest since April 2021, and easing wage growth. The Bank of England cut rates in August but held them steady in September. However, following the Budget fallout, inflationary pressures could complicate the decision. While there are arguments for a cut, the inflation risks from the Budget should lead the Bank to prioritise price stability over growth. Ultimately, they will need to balance the potential benefits of a rate cut against the risks of rising inflation expectations. All eyes will be on how they navigate these priorities.
31 October 2024
Yesterday’s Budget signals continued public sector expansion without reform, supported by £170bn in new borrowing and £40bn in increased taxes on productive sectors. This comes just 2 months after Keir Starmer emphasised growth and wealth creation. The Budget imposes austerity on the private sector, leading to higher inflation, increased borrowing and the highest overall tax burden since 1948. The bond markets are reacting negatively, with 10-year gilt yields rising 9 basis points to an 11-month high following the Chancellor’s speech. In currency markets, the Pound may hold its own against the Euro as the expectation is for the Bank of England to maintain higher interest rates longer than the European Central Bank but this is very dependent on what happens next in the bond markets.
24 October 2024
The drop in UK private sector growth to an 11-month low is significant. This PMI report reflects deep and growing concerns among businesses ahead of the Budget. Geopolitical tensions in the Ukraine and Middle East, coupled with the upcoming US elections on 5 November further compound this uncertainty. As business confidence is crucial for investment and spending, this hesitancy could see a continued impact on UK economic growth.
25 September 2024
Also commenting on the exchange rate was Tony Redondo, founder of Cosmos Currency Exchange, who said: ‘The British Pound is enjoying its ‘moment in the sun’. It’s trading at its highest level against the US dollar since March 2022.
‘This is mainly being driven by interest rate differentials. Last Friday’s retail sales and Monday’s PMI (Purchasing Managers’ Index) data indicate the UK economy is too robust for the Bank of England to entertain rapid interest rate cuts …