GBPEUR FORCAST – GBPEUR buyers left out in the cold! Will GBPEUR fall further this week? (Jonathan Watson)

Just as much of the UK has been suffering under a blanket of snow, the pound is covered in a thick blanket of uncertainty!

Anyone who is buying an overseas property in Europe will find their property is 4% more expensive since the start of the year!

GBPEUR is at a 10 month low so what better time to consider an exchange? Anyone who is buying an overseas property will find their property is 4% more expensive since the start of the year. Buying €200,000 is £6000 more expensive today than it was just 3 weeks ago…

I would expect the GBPEUR rate to continue to suffer this week and would be surprised to see any marked improvement above the level of 1.20. If you are a Euro buyer holding out I recommend making contact with our team immediately to discuss all your options. GBPEUR has dropped over 4 cents this year with most of the losses last week. UK retailers are closing left right and centre, their custom being rerouted to overseas multinationals, who pay little or no tax to restock Treasury coffers. With potential triple dip recessions, possible loss of triple A credit ratings and plenty of political uncertainty over Europe it looks like the pound will continue to suffer for the early part of 2013.

Will the UK remain in the EU? How will GBP react?

Serious questions over the UK’s relations with Europe will only fan the flames of uncertainty and sterling weakness. If you are a Euro seller it is the best time in 10 months to enter the market so you too should be carefully considering your options. Whatever your foreign exchange requirements are, our specialists can speak to you about the best course of action. Speak direct to the trading floor on 01494 787 478.

Delay of the press conference by Cameron on Britain’s membership of the EU has added further uncertainty to already murky waters. Just where does Cameron stand? Political uncertainty is bad news for investment and this is adding to sterling’s current woes. Successive British Government’s have suffered at the hands of the European question. Cameron and the coalition is looking increasingly isolated and out of touch in government and I expect the pound will continue to suffer until some clear leadership and certainty is established.

What will move this pound this week?

Public Sector Net Borrowing figures due to be released tomorrow at 09.30 are unlikely  to bring much good news for the pound and Wednesday we have Unemployment data plus the Bank of England Minutes for which I would not expect to see any change in sentiment on, but which are unlikely to do the pound any favours. If you are considering an exchange involving sterling it is in your interest making contact today to be kept up to speed by our currency experts.

DATAWATCH – UK GDP Q4 Estimate 1 – Friday at 09.30 am is a key release for the pound that may affect short term movements on sterling against other pairs. So far estimates for Q4 2012 are at -0.3 growth according to the NIESR and looking at poor data from Retail, Manufacturing and Services for December I would expect the official data Friday will not be good news for the UK and the pound. To avoid further losses and maximise your gains feel free to speak to a specialist about your options.

Anyone who is buying an overseas property in Europe will find their property is 4% more expensive since the start of the year!

GBPEUR is at a 10 month low so what better time to consider an exchange? Anyone who is buying an overseas property will find their property is 4% more expensive since the start of the year. Buying €200,000 is £6000 more expensive today than it was just 3 weeks ago…

My name is Jonathan Watson and I am a specialist currency broker. Even if your transfer is just a one off I can explain the current market and make sure you get a better deal. Please feel free to get in touch directly on 01494 787 478 asking for me Jonathan or email [email protected]

I look forward to hearing from you.