What will happen to GBEUR Exchange Rates? (Tom Holian)

GBP EUR Starts the Week with 1.1800 Test

GBPEUR exchange rates have been trading 1-37 to 1.39 during the course of the week as rumours continue of Greece running out of money and struggling to repay their debts.

Greece had its credit rating downgraded during the week which led to GBPEUR rates going in an upwards direction.

However, with all the political parties in the UK having now released their manifestos we are now just over 2 weeks away from finding out who will run the country.

With no party close to forming a majority according to opinion polls this is likely to result in another hung parliament which could be bad news for Sterling. At the last general election Sterling fell by 3% in a very short space of time which is the difference of £3,000 on a £100,000 currency transfer.

If you need to buy Euros over the next few weeks it may be worth considering a forward contract which allows you to fix exchange rates in the future and eliminate any potential falls in the value of the Pound vs Euro.

If you have a currency transfer to make and want to save money on exchange rates compared to using your own bank then contact me directly for a free quote. Tom Holian [email protected]