The Pound has remained in a fairly tight range against the Euro since the start of the year as the market appears to be waiting for further progress with the Brexit talks.
With the last meeting going relatively well in early December we saw GBPEUR rates spike in an upwards direction but the gains were relatively short-lived.
The critical issue of Brexit is that it is not just the UK who will be affected but also the European Union.
When the talks initially began last year the Pound came under a lot of pressure as the cards appeared to be in the hands of the other 27 member states.
However, recently the talks have started to progress positively and I think we could see Sterling improve in the future when the next round of discussions begin again in March.
At the moment the market is relatively settled so if you’re happy converting your money at these rates and would like a free quote then contact me directly by calling 01494725353 and ask for Tom Holian when calling.
The next catalyst for change in the short term is due to come out later on this morning with the latest release of Eurozone inflation figures at 10am. Eurozone Inflation is extremely important for the central bank when deciding monetary policy so this morning’s data could impact GBPEUR exchange rates.
The European Central Bank has already previously reduced their QE programme and if inflation remains as expected we could see the ECB possibly hint at raising interest rates at the next monthly meeting in the future which could see strength for the single currency.
If you have a currency transfer to make and would like a free quote compared to using your own bank or simply want to compare rates to buy or sell Euros against your current foreign exchange provider then feel free to get in touch for a free quote. Having worked for one of the UK’s leading currency brokers since 2003 I am confident of being able to help save you money on exchange rates.
Email me directly and I look forward to hearing from you.
Tom Holian [email protected]