Euro at 10 month high against the Pound (Tom Holian)

Pound Euro exchange rates have continued to fall this week hitting support levels of 1.10 earlier this afternoon.

The Pound is really struggling caused by the uncertainty of Brexit and the recent downgrading of the UK’s growth forecast for both this year and next.

Earlier on today French Trade Balance came out much better than expected as did their Export figures which further highlighted the strength of the economy in the Eurozone.

Indeed, the Euro is now trading at its best level in almost 18 months against the US Dollar which is good news for anyone holding Euros at the moment.

If you’re in the process of selling a property in Europe but have not yet completed it may be worth looking at buying a forward contract which allows you to fix an exchange rate for a future date.

This involves paying a small deposit and the remaining balance at a date that works for you. This means you know exactly how much Sterling you will get when the property completes and can be especially useful if you’re concerned as to what may happen to GBPEUR exchange rates in the weeks ahead.

If you have a currency exchange to carry out in the coming days, weeks or months then you are more than welcome to speak with me directly as I will be more than happy to help you both with trying to time a transaction and getting you the top market rate when you do come to buy your currency.

A small improvement in a rate of exchange can make a huge difference so for the sake of taking two minutes to email me you may find you save yourself hundreds if not thousands of Pounds. You can email me (Tom Holian) on teh@currencies.co.uk and I will endeavour to get back to you as soon as I can.