Its been a terrible start to for the Pound in 2016. GBPEUR has dropped over 6 and a half cents making a €200,000 purchase just under £7,500 more expensive. The Pound has dropped back into the 1.20 for the first time since January 2015.
Governor of the Bank of England Mark Carney, has once again confirmed the UK are not in the position to hike interest rates and his reasoning for this is the turmoil in the global economy and weaker UK growth numbers.
Many clients are holding out in ‘hope’ that GBPEUR reaches the highs we saw in 2015 and I think this could cost them.
At the moment Eurozone economic data is strong where as UK data is poor. Further to this the talks of the ECB increasing the quantitative easing program have diminished. It wouldn’t surprise me if by the end of this month GBPEUR is trading between 1.25 and 1.27.
If you need to buy or sell Euros in the upcoming days, weeks or months feel free to email me with your individual requirement (buying a property/ paying a company invoice) and the currency pair (EUR/GBP, EUR/USD) I will personally respond with my forecast, strategy and the buying process. [email protected] Dayle Littlejohn. Alternatively feel free to give me a call on 0044 1494 787 478 and ask the reception team to be put through to Dayle Littlejohn.
IF YOU WOULD SIMPLY LIKE A COMPARISON AGAINST YOUR CURRENT PROVIDER EMAIL ME WITH THE EXACT FIGURES AND I WILL GIVE YOU OUR LIVE BUYING PRICE AND TOGETHER WE CAN DO A COMPARISON!! THIS TAKES 30 SECONDS AND COULD SAVE YOU THOUSANDS!!