The Pound has remained in a tight range against the Euro over the last few days after a number of economic data releases this week that would typically made more of an impact on GBPEUR exchange rates.
Yesterday morning the UK published unemployment figures as well average earnings, which came in close to the expectation and this morning UK GDP also came in at 1.4% which although was marginally lower than expected the amount was minimal so this had little effect on GBPEUR exchange rates.
It appears as though Sterling exchange rates are waiting to see what will happen with the ongoing Brexit talks and this is the reason why I think the Pound is making only small movements against the Euro for the time being.
On Friday the next data release that could affect exchange rates is Eurozone inflation data in the form of the latest Consumer Price Index for January. Inflation has been a key topic for many of the central banks in recent months with the UK having raised interest rates at the end of last year in an attempt to curb rising inflation.
Therefore, the data due to be released on Friday could see some volatility on GBPEUR exchange rates on Friday so make sure you’re prepared if you’re looking at making a currency transfer in the next few days.
Today Prime Minister Theresa May is holding at meeting at Chequers with various senior ministers about how the EU and UK will work together from March 2019 onwards.
It will be interesting to see if many details are released so this could also have an impact upon the Pound overnight.
If you would like to free quote when buying or selling Euros and would like to save money on exchange rates compared to using your own bank then contact me directly. Having worked in the foreign exchange industry for one of the UK’s leading currency brokers since 2003 I am confident of being able to save you money and help you with the timing of your transfer.
Feel free to email me directly with a brief description of your requirement and I look forward to hearing from you.
Tom Holian [email protected]