Today we see both the Bank of England & the European Central Bank make announcements setting the interest rates for the month of August. The currency pairing between GBP-EUR have been extremely flat over the last 2-3 days. the expectation is for both central banks to keep rates on hold but should either decision come out differently then we could really see either currency struggle
At present the pound has lost about 0.43% against the Euro on the back of some factory orders for Germany which has showed a positive gain of 3.2% for the month of June. This goes to show that even the smallest of economic data releases can have a real impact on the price of sending money overseas. If you were exchanging £200,000 into Euros now you would be achieving 1460 Euros less than at the high of the day.
If you are buying a property abroad, have business transactions to carry out or need to get money overseas for any other reason and want the best exchange rates, just fill in the form on the right hand side and one of the experienced traders that write on this blog will be in touch shortly.