The Pound made some very positive gains vs the single currency on Friday trading session as the UK posted some better than expected Manufacturing data.
The figures saw an increase owing to the low value of Sterling exchange rates which encouraged a huge amount of overseas orders.
This caused the Pound vs Euro exchange rate to hit as high as 1.0970 yesterday but I think the gains will be short lived as the topic of Brexit will continue to dominate the headlines.
At the moment we are at a stalemate as no clear amount has been decided as to how much the ‘Divorce Bill’ will be. There are suggestions of between EUR60bn-EUR100bn but as yet nothing has been agreed so we are still in limbo.
Next week there are two key data releases for the UK in the form of UK inflation data on Tuesday followed by unemployment data on Wednesday.
Both sets of data are likely to cause volatility for the Pound Euro exchange rates so if you’re considering making a currency transfer keep a close eye out on both announcements.
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 [email protected] and I will endeavour to get back to you as soon as I can.