The pound has continued its decline against the Euro this morning testing new lows of 1.2142. The main contributing factor to the losses for the pound was the production figures to be released for the UK economy. It has shown that our industrial and manufacturing production figures have dropped a lot more than what was expected. This now shows that the UK economy is not ok and it faces a battle over the course of this year.
These latest figures could mean that at the end of last year the UK economy did not grow and many are now thinking that we could be in a triple dip recession. This is hindering the pound against a range of currencies but most notably against the Euro.
Once the official GBP figures for the UK come out I feel the pound could fall even further. This is great news if you are selling in the Eurozone as you are now getting the best levels in nearly a year for bringing your Euros back to the UK. If you are one that is buying in Europe and know that you need your funds over the next 2-3 months then please do contact me and I will explain the options that are available to you so you can limit any further losses.
Likewise if you are selling in Europe and will be bringing yoru funds back to teh Uk it would be good for me to explain how you may be able to get even better levels should the Euro continue its decline against the pound.
Feel free to email me at [email protected] and I will come back to you with all the options that are available to you.
Thank you for reading