Since UK Prime Minister Theresa May triggered Article 50 the pound has strengthened against the euro and exchange rates have broken through 1.17. Before Brexit talks can begin the EU want to establish the amount the UK will have to pay the EU as a divorce settlement, €50 billion has been reported. However MPs within Westminster are hoping to be able to discuss the new deal whilst negotiating the amount that they will have to pay.
Even though Article 50 has been triggered, Brexit negotiations are going to make headline news and will be reported on this site for years to come. However in other news the next key event to keep your eyes on is the French Election. Anti EU leader Marine Le Pen has been gaining momentum in the polls and an exit from the EU is her plan. I am convinced she will get through the first round however fall short in the final, nevertheless this should still cause volatility for GBPEUR exchange rates.
For many months my strategy for euro sellers that are buying the pound has been to wait to see how the triggering of Article 50 impacted exchange rates. Now that this event has been and gone the safe option for euro sellers is to trade whilst you can. I believe the euro is going to have a tough 2017 with the French election, the Greek debt payment in July and then the German Election.
For euro buyers, as long as Brexit talks go smoothly and there is no hint that the UK will not remain part of the single market waiting could achieve you an extra cent or two, however outlining your position is wise so I can keep you up to date with regular market information.
How can I help you?
The currency company I work for enables me to achieve clients rates of exchange that they won’t be able to achieve by using their own bank.
Property purchases and sales are my area of expertise, therefore if you need to purchase a foreign currency or you are about to complete on a sale abroad, today is the day to get in touch to discuss your options and to get an understanding of how we can save you as much money as possible.
When purchasing currency it’s crucial to analyse both the currencies you will be trading, as your 2nd currency will also have an impact on the pair.
Feel free to email me the currency pair you are converting (GBPUSD, GBPAUD, GBPCHF etc) the reason for your conversion (company invoice, buying a property) and I will email you with my forecast for the currency pair and the process of using our company email@example.com.
** If you are already using a brokerage and would like to know if you are receiving the best rates possible email me with the exact figures and I will reply with our live price. This will take you minutes and in the past I have saved clients thousands! **