Pound to euro forecast for April

GBPEUR rates have started to settle following the uproar caused by Cyrpus. Tremendous problems remain in the euro zone but the euro remains well supported. This post will look at why the euro remains so strong and what anyone who is considering an exchange involving euros to pounds or pounds to euros can expect.

Where are we headed next on GBPEUR?

I think the rate will drop to a lower level of say 1.15 in the coming weeks but will be lifted towards the end of the month as we find out the UK has avoided a triple dip. This could cause a slight relief rally (although I think the pound has risen lately because many believe we have avoided the triple dip) which may take us back to the 1.18, maybe 1.19 at best.

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Since the start of the year a purchase of €200,000 has at the worst rates been nearly £14,000 more expensive. With rates having been well over 1.20 for most of 2012 anyone buying euros would be forgiven for asking why the euro is so strong. The answer is the ECB (European Central Bank). They have proved they will ‘do whatever it takes’ to keep countries inside the euro. That ‘whatever it takes’ has now been proved to mean taking money off bank depositor’s.

There is still a firmly held belief the ECB will follow through and ensure the debt crisis does not get significantly worse. And whilst to many this seems unbelievable it is this ‘confidence’ that has underpinned the Euro for the last few years. If you look back at rates for the last four or five years despite the onset of the debt crisis GBPEUR levels have generally been below 1.20, in the main they have been about 1.15. Add to the mix the trouble sterling has suffered in 2013 and it becomes clearer why the levels are where they are. Longer term I expect the Euro to come under pressure but this could be months or years away and in any event the pound is not looking too likely to capitalise.

Whether buying or selling the pound I can help with an exchange rate that will beat the banks and save you money. Even if your transfer is many months away, on a few thousand up to multi-million pound transfers we offer a service that will identify your situation, explain your options and ultimately help limit your exposure and save you money.