Pound to Euro rate drops below 1.14, will the pressure on May push the rate even lower?

Pound Sterling Outlook: Will the UK and EU Strike a Trade Deal and How Will GBP Perform?

The Pound is coming under pressure as the Brexit bill, and what will happen if there is no Brexit deal is currently weighing the Pound’s value down.

Sterling exchange rates have fallen across the board of major currency pairs today, with the GBP/EUR rate down by around 0.2% at the time of writing. The debate at the House of Commons will commence once again tomorrow and I think that any updates could impact the Pounds value depending on what’s said.

The political risks for UK Prime Minister, Theresa May are increasing and there have even been talks of a split in her camp with some wishing for her downfall in order to push through the type of Brexit they desire.

Whilst this continues I expect to see Sterling come under pressure. Anyone with a GBP/EUR transfer to plan should be aware that over the past year the rate has been as high as 1.15 and as low as 1.07.

With much of the Pound’s movement being instigated by political news, it can be hard to tell when the rate is likely to move. Working on a dealing floor allows us to react quickly and if you wish to be updated in the event of a major market movement, do feel free to register your interest with me.

If you have a large currency exchange to carry out in the coming days, weeks or months then you are more than welcome 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. A small improvement in a rate of exchange can make a huge difference so for the sake of taking two minutes to email me you may find you save yourself hundreds if not thousands of Pounds. You can email me (Joseph Wright) on [email protected] and I will endeavour to get back to you as soon as I can.