Pound Euro Hits 1.27 Today As We Await The Scottish Vote (Colm Gilhooly)

GBPCHF rates hit near 3-month highs

Sterling euro exchange rates hit 1.27 today setting a new 2 year high as it looks as though markets are expecting the No campaign to succeed (albeit marginally).  Obviously it is impossible to tell exactly what is going to happen but my gut feeling is that Scotland will vote No and the pound will experience a slight relief rally, meaning tomorrow morning could be a great time to exchange pounds to euro if the announcement has been made.

However a Yes vote could cause sterling to plunge for an indefinite period as nobody really knows what the implications would be and that uncertainty is likely to cause a panic sell off of sterling.  If you need to make a currency transfer and want to get the best exchange rate then feel free to email Colm at cmg@currencies.co.uk and I would be happy to explain how our services work to save you money.