GBPEUR spikes above 1.13

Overnight key Brexit developments have been made and euro buyers have reaped the rewards with exchange rates spiking from the lower 1.11s to the lower 1.13s. Reports are suggesting that the UK has offered €50bn as a divorce settlement which equates approximately to £44bn. No agreement has been made however it appears that the EU have welcomed the figure which in my eyes is a break through in the Brexit negotiations.

In recent weeks the amount of euros the UK would pay the EU as a divorce settlement has been the sticking point. Early this year the UK were suggesting they wouldn’t pay a penny to leave the EU and the EU wanted €100bn. It just shows developments have been made.

The next question is what next? This development shows quite clearly that the UK and EU want to eventually come to an agreement and I am optimistic that this will eventually happen. However the Irish border could be the next sticking point as Northern Ireland have stated they do not want a hard border.

On the 14th and 15 of December the EU will decide whether trade negotiations can begin. If enough progression has been made I expect the pound could continue to rise against the euro.

For further information in regards to GBPEUR exchange rates 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 the options available to you and the process of using the company I work for Alternatively if you would like to discuss your requirements over the phone call 01494-787478 and ask to be put through to Dayle Littlejohn.

** If you are already using a brokerage and would like to know if you are receiving the best rates possible 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! **