Towards the end of last week GBP/ EUR rocketed off the back of Mario Draghi admitting the tools are in place to increase the amount of quantitative easing in order to combat deflation.
GBP /EUR has increased from 1.35 to 1.39. This means purchases of €200,000 are now £4,000 cheaper compared to this time last week.
If Mario Draghi continues to address inflation woes over the upcoming weeks in similar fashion, we could see GBP/EUR back into the 1.40s. However UK data over the last month has been poor therefore its important to understand all of the factors that could have an impact on the exchange rate.
If you have a currency transfer to make and would like further information regarding upcoming economic events and you also want to save money on exchange rates compared to using your own bank then contact me directly for a free quote. Dayle Littlejohn [email protected].