Over the last 7 days the GBPEUR rate has climbed significantly, we are currently at the best levels we have seen for over 4 months.
If you want to take immedate advanatage please get in contact before tomorrow – contact myself via email at email@example.com
The reason for this movement is due to an increasingly likelhood that the UK will remain as a member of the EU following the vote on the 23rd June. This drives up the demand for the Pound and makes it more value but don’t get into false hope for further gains. It seems likely that this will at least be stopped tomorrow when UK GDP figures are released. This is expected to show a slowdown in UK activity as a result of the uncertainty on the EU referrendom resulting in Sterling weakness on the day. Further afield it seems likely that we will see rates fall as we get closer to the event itself, like we have seen before in elections and votes over the years. Basically global demand for the Pound will more likely fall which may result in Sterling weakness.
As a result it is being forecast that these current levels will be close to the best levels we will see for a while.
For more information, llve prices and forecasts please get in contact – email me Steve Eakins via HSE@Currencies.co.uk