The Pound has continued to make gains during the course of this week against the single currency as the news from the behind the scenes concerning the Brexit appears to be going a lot more positively recently.
Rumours are rife that the UK are preparing to offer approximately €50billion Euros as part of a settlement called the divorce bill in order to take the trade negotiations forward.
The next meeting is due to take place in the middle of next month and top of the agenda is likely to be the Irish border issue and as yet this could be a real sticking point for progression of the talks.
Clearly Ireland wants to remain without a physical border between north and south and this has not yet been sorted.
The amount of €50bn is not the only amount that the UK may have to pay as we also have a lot of previous financial obligations with some expectations as much as €100bn.
The Pound vs the Euro is currently trading at its best level to buy the single currency with Sterling since the start of the month creating some excellent opportunities for those looking to send money to Europe.
However, with all the ongoing uncertainty over the next few weeks a lot of my clients have been looking to buy a forward contract which allows you to fix an exchange rate for a future date.
This can take out all the concern of where GBPEUR exchange rates may be during this time and although they don’t always work they can provide you with peace of mind.
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.