Pound to Euro exchange rates soar heading into the weekend (Joshua Privett)

GBP EUR Starts the Week on a Positive Note


Pound to Euro exchange rates have seen their first signs of true life in a while, with the Pound rising heavily against the Euro to end a week on the currency markets which saw almost no movement on the day Article 50 was triggered, but went haywire at the release of a short summary of the Eurozone’s positions heading into the negotiations.

Clearly this is what currency markets believe is the defining moment heading into the negotiations, as the UK can be as positive as they like, but the reaction from the Eurozone will define the likely trajectory of where an eventual deal may land.

The tone from the Eurozone was constructive, positive, and even left room for future trade negotiations to begin before the UK has officially left, making it seem likely that a deal will be reached sooner than expected.

From now markets will be looking ahead to the French elections and will, if current polls remain where they are, provide some support for the Euro since it seems fairly unlikely now that the anti-establishment and anti-EU candidate, Marine Le Pen, will come to power, creating opportunities for Euro sellers.

It is simply judging how much momemtum this euphoria surrounding the Pound will last.

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