After a very volatile week of trading for the pound, exchange rates were far less volatile through yesterday’s Brexit votes and with little economic data due out today the currency markets could remain a little quieter leading up to the weekend.
The pound to euro exchange rate has hit it’s annual high this week, when the pair hit 1.1801 briefly before dropping off. That was also the highest level seen in around 21-22 months so those of our readers looking to change pounds into euros, or indeed other currency pairings, are generally in a good position at the moment when we consider recent historical trade levels.
Last night, the Government’s motion to delay the original leave date of 29th March was passed with a majority of 210. There will be a final vote on UK Prime Minister Theresa May’s Brexit deal before Wednesday next week, and if she’s successful it’s likely that the extension would still take place in order to iron out the final details
Politics is the main driver of the pound’s value at the moment, so if you would like to be kept updated regarding the pound’s next moves do feel free to register your interest with me.
Mid-market levels are now trading just north of 1.17 with the pound having lost some value against almost all major currency pairs this morning, which isn’t unusual after the gains made recently.
Aside from the all important Brexit updates which are likely to continue dominating the headlines and influencing sterling exchange rates, the Bank of England’s (BoE) interest rate decision next Thursday could also be of interest. Although there are no changes expected, and comments made in the speeches that follow delivered by the Monetary Policy Committee or the BoE’s Governor could move the markets.
Feel free to use the form below to get in touch for more information on the above factors, or to ask another question about an upcoming transfer. I’ll be happy to respond personally and discuss your requirements.