The Pound has once again started the week on the back foot after further political problems facing the UK.
The Pound fell against both the Euro and the US Dollar during yesterday’s trading session after a Sunday Times report which suggested that 40 Conservative MPs are putting pen to paper to try and organise a leadership challenge.
With 8 more signatures needed this has added further speculation that may undermine current Prime Minister Theresa May.
UK businesses are also looking to form a deal in order to avoid the future uncertainty caused by the lack of clarity with Brexit so far.
However, arguably one of the most important stories so far is that according to David David parliament will have the final decision with what laws to agree.
UK inflation has just come out this morning lower than expected and this highlights the Bank of England’s comments from earlier this month that in part the rate hike was due to the concern over Brexit.
GBPEUR exchange rates have fallen by almost once cent this morning already following the inflation data this morning which showed a fall from 2.8% to 2.7%.
With Eurozone GDP data due to be released at 10am this morning this could cause further volatility for the Pound vs the Euro so for a free quote over the phone then call me directly on 01494787478 and ask for Tom Holian when calling.
If you have a need to make a currency transfer in the coming days, weeks or months then feel free 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 compared to your bank or another currency broker.
Even a small improvement in the exchange rates can make a big difference so feel free to to email me and you may find you could save yourself hundreds if not thousands of Pounds. You can email me (Tom Holian) on [email protected] and I will respond to you as soon as I can.