The Pound vs the Euro fell from its recent highs hit earlier in the week after Theresa May’s speech in Florence. The speech has led to more questions and didn’t provide the markets with much certainty that many had hoped for.
The Pound is once again again trading below 1.13 and with tomorrow’s German election we could see GBPEUR rates in a very different position by Monday morning.
Personally, I full expect Angela Merkel to win another term which would be the fourth consecutive time that she has led the most powerful nation in Europe.
Generally speaking if the same party remains in power this tends to strengthen the currency involved which is why I expect the Euro to improve against the Pound during the early part of next week.
On Wednesday the latest set of UK GDP figures are due out with the expectation for growth of 1.7%.
With the Bank of England announcing recently that they were please with how the previous quarter has gone then if the figures come out better than expected we could see the Pound making gains vs the Euro on Wednesday.
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 firstname.lastname@example.org and I will endeavour to get back to you as soon as I can.