If you know you need to make a currency exchange in the future it is a good idea to do some forward planning to limit your exposure. An awareness of some of the key issues concerning the currency is wise, plus an exploration of the mechanics of any transfer. Getting the best rate can be achieved through careful monitoring of the rate plus the service of a currency broker.
The pound to euro exchange had slowly been moving back towards the 1.15’s following a couple of weeks around the 1.17’s. Then Bank of England Governor Mark Carney made a speech which helped fuel confidence for the pound and just shows how we should never take rates too much for granted. Exchange rates for the pound and euro are predicted to move back towards the 1.15 and 1.16’s next month due to the German election which should give rise to Euro strength.
The euro has found favour lately as the eurozone returns to growth and confidence returns. This confidence it must be said is mainly present in Germany and France, it is not necessarily filtering through to the rest of the eurozone just yet. But investors have confidence that on the current trajectory this will be achieved and eventually Greece and Spain will start to recover.
Sterling looks set to remain well supported but under pressure. I expect the trading ranges on GBPEUR to be 1.14-1.18. Of course the actual levels we see will depend on how the market digests certain pieces of information and the impact of certain unknown factors such as the Syrian crisis.
If you are considering an exchange in the future, even if a one-off, we can assist with a personal service and much better exchange rates than you would find elsewhere. For a free, no obligation discussion and guidance on how it all works please contact the author direct on email@example.com or call 01494 787 478 and ask to speak to Jonathan.
I look forward to hearing from you.