This morning the eurozone is set to release their latest core inflation numbers at 9am and the consensus is for a slight fall. If this is the case I expect the pound to make further inroads against the euro, however I believe this will be a window of opportunity and not sustained. My reasoning is that many forecasters are predicting that the European quantitative easing program should come to an end by the end of 2018 and inflation would have to fall drastically for this not to happen.
The resaon why I believe a fall is on the horizon for sterling is because Brexit negotiations are on going at present and the Irish border I believe is going to be a sticking point. Theresa May wants no hard border in Ireland but at the same time wants Northern Ireland to leave the customs union. So far both parties are struggling to come to an agreement and this is why I believe euro buyers should take advantage of current levels.
For euro buyers, in recent weeks exchange rates have increased 3 cents and we are trading at the best levels for the last 10 months except for an odd day or two. To put this into monetary value the 3 cent shift throughout March means clients achieve an additional €6,000!
If you are trading a currency pair that isn’t GBPEUR, it’s crucial when buying or selling the pound to analyse both the currencies you will be trading, as your 2nd currency will also have an impact on your decision. 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), timescales and I will email you with my forecast for the currency pair and the process of using our company firstname.lastname@example.org. Dayle Littlejohn
** If you are already using a brokerage, especially online platforms, but would like a comparison and my help with timings (this is where you can make further savings), I am more than happy to do this for you. Feel free to email me the currency pair you are trading and the volume and I will respond with the live price **