The impact of the EU summit on Sterling Euro exchange rates (Tom Holian)

We have seen the Pound vs the Euro improve during the course of this afternoon as Prime Minister Theresa May has suggested that the UK is ‘on course to deliver on Brexit’.

This has helped to strengthen Sterling against the Euro which is good news for anyone looking to send money to Europe at the moment. The question is how long will this boost last?

When we saw the Pound hit a seven month high to buy the single currency last Friday the gains were all lost by that same afternoon and clearly the Brexit talks are dominating the sentiment surrounding GBPEUR exchange rates.

Even though we have seen a huge amount of economic data during the course of the day the market is only appearing to move owing to the talks in Brussels at the moment.

After the defeat in the House of Commons yesterday the next two days will be crucial to determine what will happen to the Pound in the run up to the festive period.

The Pound vs the Euro has hit 1.14 on the Interbank level and is only 1 cent lower than last week’s 7 month high to buy the Euro with Pounds.

The Euro has weakened against the US Dollar this afternoon after the ECB’s latest monetary policy announcement whereby they confirmed that Quantitative Easing will remain open ended at the moment.

This has led to a sell off for the Euro and provided some good opportunities to buy Euros with either Dollars or Sterling. If the Brexit talks continue to go well we could see GBPEUR exchange rates challenge last week’s high.

If you’re in the process of either buying or selling Euros and would like to be kept updated with what is happening over the next few days then contact me directly for a free quote.

Having worked for one of the UK’s leading currency brokers since 2003 I am confident not only of being able to offer you better exchange rates than using your own bank but also help you with the timing of your trade.

Contact me directly Tom Holian [email protected] and I look forward to hearing from you.