Over the last month the general trend has been for GBPEUR exchange rates to fall throughout the week and this week has been no different. UK inflation numbers Tuesday morning disappointed, which has completely removed any possibility that the Bank of England will raise interest rates anytime soon. Yesterday Unemployment numbers for the UK stopped the pound from falling any further as Unemployment dropped to 4.4% and record lows.
This morning UK retail sales numbers are set to be released. As inflation has been outpacing wage growth in recent months I wouldn’t be surprised to see these numbers disappoint and therefore the pound to lose further value against the euro. Later in the morning Eurozone inflation is to be released and this number could have a major impact on GBPEUR exchange rates going forward. If inflation rises further it puts further pressure on President of the European Central Bank Mario Draghi to taper the bond buying program, Quantitative easing.
Many of my clients are asking if GBPEUR exchange rates could fall further and the likelihood is yes. However with GBPEUR exchange rates fluctuating in the lower teens, I believe exchange rates are close to the bottom of the market until we find out if the UK and EU will form a unique partnership once the UK leave the EU.
For further information in regards to converting GBPEUR feel free to email me with the reason for the transfer (company goods, property purchase) and timescales you are working to and I will respond with my forecast and the options available to you email@example.com. Alternatively if you would like to discuss your requirements over the phone call 01494-787478 and ask to be put through to Dayle Littlejohn.
Common clients I help on a daily basis are Sole traders, MD or FD of a company, property buyers and sellers. If you are one of the three and are currently using the bank to transfer your currency you need to be made aware that you could be saving money!
** If you are already using a brokerage and would like to a free quote email me with the exact figures and I will reply with our live price. This will take you a few minutes and in the past I have saved clients thousands! **