Pound to euro predictions: Forecast for the remainder of 2019

Brexit Pound to Euro exchange rate How will Sterling react to Brexit this week?

Over the last 8 weeks, pound to euro exchange rates have dropped 5%. To put this into monetary value a €250,000 purchase now costs an additional £11,450. The pound has declined in value due to the chances of a no deal Brexit increasing. As it’s been highlighted over all media stations, front runner Boris Johnson has made it clear that the UK will be leaving the EU with or without a deal at the end of October.

New UK Prime Minister to be announced on 23rd July

This month the 160,000 Tory members will vote to decide who they want to be the next Prime Minister and the verdict will be announced on the 23rd July. If the polls are correct and Boris takes over at No. 10, the chances of crashing out of the EU without a deal increases, therefore I expect the pound to face further pressure against the euro. However if Jeremy Hunt manages to beat the odds and win, the pound could recover some of the losses it has seen over the last 8 weeks.

Pound to euro predictions for 2019

To forecast Pound to euro rates for the remainder of the year, I am predicting that Boris will become the next Prime Minster. Therefore throughout August we will find out more in regards to how the former Mayor of London wishes to proceed.

Regardless of who takes over, the EU’s position I believe will remain clear and the withdrawal agreement will not be changed. Therefore this could put further pressure on the pound. However come the end of October, I don’t believe the UK will crash out of the EU without a deal as MPs within the House of Commons will find a way of blocking it. In fact, the most likely option I believe will be a snap General election which Boris Johnson himself calls.

For clients that are buying euros, an uncertain time ahead is on the horizon. Therefore, if you buying property in Europe or have to pay a company invoice, buying euros upfront I believe is your best option. For clients selling euros to buy pounds, you are in a fantastic position. Exchange rates have dropped 5% in 8 weeks and uncertain times lay ahead. If I was in your position I would outline your requirements by filling in the form below, this will send your message directly to me and I will keep you up to date as developments unfold.

Pound Sterling exchange rates remain flat with minimal economic data or Brexit news to feed from

Pound Sterling exchange rates remain flat with minimal economic data or Brexit news to feed from

So far this week we have not seen a huge amount of volatility for Pound Sterling exchange rates, if anything, against the Euro the Pound dropped ever so slightly.

News released this morning indicates that Mark Carney, Governor of the Bank of England is set to potentially take over the helm at the IMF (International Monetary Fund). This no great surprise as he is due to leave at the start of 2020. He had already agreed to remain longer than his original post was due to end to help steer the UK through the choppy Brexit waters. Hopefully whichever way that the Brexit situation ends up, something will be resolved before his departure.

Pound Sterling exchange rates: Brexit uncertainty continue to hamper the Pound

On the Brexit front we still have no new news and it is not a great surprise that the Pound is struggling as political and economic uncertainty can historically be damaging for a currency. Brexit brings both to the table. With no clear ending in sight it is hard to see any dramatic improvement in Sterling exchange rates in the near future.

Economic data for next week

Economic data is reasonably quiet for the rest of the week, on Wednesday of next week we do have a blockbuster of a day in terms of economic data, with industrial and manufacturing production, growth and trade balance figures all due in the morning, and the NIESR (National Institute of Social and Economic Research) growth estimates due out in the afternoon.

European economic data is very thin on the ground over the course of next week so it will be more likely that political news will impact the value of Euro exchange rates unless any economic surprises pop up.

On that front there is the potential for a number of economies within the Eurozone to hit the headlines as many are struggling. However, with Brexit still being the star of the media show a lot of these issues are being overlooked.

All in all it is a tricky period to predict exchange rates and it does look like rates may remain fairly range bound over the coming days. Having worked in the markets for nearly a dozen years surprises can happen so it is always key to keep an eye on the exchange rates on a regular basis.

If you are in the process of buying or selling a property overseas and you would like my assistance, then it would be a pleasure to help you with the timing of your transfer and with making the most for your money when the time arises. If you would like to discuss a potential exchange with me personally then feel free to fill in the form below and I will be happy to contact you for a no obligation discussion.

Pound vs Euro forecast: A higher probability of a no deal Brexit will result in a weaker Pound

Pound vs Euro forecast: A higher probability of a no deal Brexit will result in a weaker Pound

Pound vs Euro forecast: Boris Johnson’s stance could weaken Sterling

The pound remains weak against the majority of major currencies due to political uncertainty and the lack of clarity surrounding Brexit. At present the UK is in Brexit limbo and we have no Prime Minister. Political and economic uncertainty are catalysts to a currency losing value.

Favourite to gain the role of Prime Minister, Boris Johnson has said he will be willing to take the UK out of the European Union if a deal cannot be reached.

He will attempt to use the threat of a no deal Brexit scenario as ammunition to get an improved deal from Brussels.

Johnson stated the following this week “We are getting ready to come out on 31st October. Come what may. Do or die.”

He has made it clear that he does not wish to go down the route of another extension.

Brussels has stated on several occasions that the deal on the table is the only deal on the table and there will be no renegotiation. This is something that is seemingly being ignored by British members of Parliament.

The general consensus amongst economists is the higher the probability of a no deal the weaker the Pound will become. This does not bode well for Sterling and should you have to sell the Pound short to medium term you may wish to take advantage of current rates.

Will UK GDP data cause Sterling exchange rates to drop

UK GDP figures are released later today and there is expected to be very little change. Year on Year figures are set to remain unchanged at 1.8% and it is a similar situation with month on month set to stay at 0.5%.

I believe the data could land below expectations which could cause Sterling weakness.

If you would like a free quote for buying or selling euros, or would like to discuss exchange rates in more details, please contact me directly using the form below. I look forward to hearing from you.

Pound vs Euro exchange rates: Will Boris Johnson sink the pound again?

Pound to Euro forecast Boris Johnson as PM provides Sterling with a boost against the Euro but for how long?

Boris Johnson has been a colourful figure in many ways, and this is also true of his in influence on sterling in the currency markets. The pound vs Euro exchange rates have never been too steady with Boris around, as was proved when he first came out in favour of Leave back in 2016. How will sterling perform in the weeks ahead with ‘BoJo’ looking likely to be the next UK Prime Minister?

Boris’ refusal to completely rule out a no-deal Brexit is a key factor in the behaviour of sterling with no-deal a key aspect in the market’s assessment of the performance of the British currency. Boris Johnson has proposed various measures if Britain decides to leaves the EU without a deal, with a key aspiration to not rule it out.

This means that, assuming he becomes Conservative leader and the UK PM, which is very likely, sterling could be in for further turbulence. Whilst Boris is not actively seeking a no-deal Brexit alone, and does want to renegotiate with Brussels, the lack of expectation on any lee-way from the EU leads to an increased expectation for a no-deal Brexit on October 31st 2019.

Pound vs Euro forecast: What will help the pound to rise against the Euro?

The news is not all doom and gloom for pound vs Euro rates, the recent weakness on the Euro could still assist those looking to buy Euros.

Mario Draghi, President of the European Central Bank (ECB) hinted yesterday that the Quantitative Easing (QE) program, which weakened the Euro so much in recent years, could be revisited if inflation remained low.

The Bank of England might also offer some support here too. The latest UK interest rate decision is due tomorrow at midday. Any suggestions that UK interest rates might need to be raised in the future could lead to a rise in sterling exchange rates. Although the Bank has not historically been supportive of the uncertainty caused by Brexit, is it likely to view Boris’ approach too favourably.

US Federal Reserve speech could impact EUR/USD rates

To complete the trio of central bank activity, we have the US Federal Reserve speaking tonight. This might well influence movement on EUR/USD exchange rates, which may ‘weigh’ the Euro higher or lower versus the pound.

There is so much going at present to drive pound vs Euro exchange rates as the market remains on tenterhooks to observe clarity on Brexit and central bank activity. For a personal and comprehensive review of your currency plans, please do contact myself, Jonathan, to discuss any currency transfers you might be considering up ahead. You can contact me directly using the form below:

Pound to Euro Forecast – Leadership Contest Drives GBP/EUR Rate Lower

Pound to Euro Forecast - Leadership Contest Drives GBP/EUR Rate Lower

The pound to Euro exchange rate continues to test the lower levels with rates falling to a five month low for the GBP/EUR rate.

Whilst this is welcome news for those looking to sell Euros, those that wish to buy Euros are struggling to see much hope for a rally with the ongoing Brexit and political uncertainty. The Conservative leadership contest for the next Prime Minister continues and front runner Boris Johnson will commence his campaign today.

Boris Johnson puts “no deal” Brexit on the table

Boris Johnson has promised that the UK will leave the EU by the 31st June deadline with or without a deal. The return of “no deal” to the table is what is putting pressure on GBP exchange rates.

Labour looking to prevent no deal Brexit

The Labour party will today table a cross party motion to try and prevent a no deal Brexit from ever happening which could have some bearing on the direction of travel for the pound to Euro exchange rate.

The motion appears to have cross party support from all of the other parties and if successful will likely give the Government and any future leader a headache as the options of Brexit are whittled down. The move could even force a general election adding another layer of uncertainty for the pound vs Euro exchange rate. The prospect of a no deal exit from the EU continues to be the major driver for pound to Euro rates with considerable market reaction being seen on the back of Brexit related headlines. As we await confirmation of the next British Prime Minister there is likely to be high volatility for GBP/EUR rates in the run up to the event.

Those looking to sell Euros may wish to consider taking advantage of the attractive rates although there may be more room for EUR/GBP rates to improve further. With little optimism for a deal being reached on Brexit the pound is likely to remain tested.

Will the Euro go down against the Pound?

The Euro could also be in for a rough ride ahead after the European Central Bank met last week and signalled its intent to cut interest rates if required and re-introduce another round of bond purchases to help avoid a global recession. Although ECB President Mario Draghi said that the EU will avoid a recession in 2019, he did make clear that interest rates are likely to be cut. Such a move would likely result in Euro weakness.

If you would like to ask a question about anything you have read in my pound to Euro forecast, or would like to discuss exchange rates, please feel free to contact me directly using the form below. I will respond personally.

Pound vs Euro rates: Conservative leadership contest and impact on GBP/EUR rates

Pound to Euro Rates Marooned Under 1.12 as UK Political Battle Intensifies

Pound vs Euro rates: The Pound has been trading in a very tight range versus the Euro this week. It appears as though the markets are adopting a wait and see approach. Theresa May is due to step down today but will remain until the Conservative Party find a new leader.

This could still take a number of weeks with 11 candidates still in the frame. There were previously 13 but James Cleverly and Kit Malthouse have stood down since. At the moment Brexiteer Boris Johnson appears to be the leading contender. However, at this early stage it is too difficult to predict who will win the leadership contest.

Whoever wins the leadership content should give us some direction as to which way Brexit may go next. This could have a big impact on GBP/EUR exchange rates depending on who leads the country going forward.

The 1922 committee, who had previously put pressure on Theresa May to step down, appear to be changing the length of time for the leadership contest. This means that candidates will need the support of 8 MPs rather than 2. Then they will need 16 in the first ballot and 32 in the following ballot.

Will Brexit be delayed? How could this impact Pound vs Euro rates

Michael Gove has claimed that he would delay Brexit if he comes in to power. He has made these claims as he thinks he can get a better deal if we do not rush things. He also thinks by making a rash decision this could lead the country in to a general election. If so, this could possibly give Jeremy Corbyn the opportunity to gain power, something that the Conservative Party clearly do not want to happen.

With little economic data due out in the UK today the focus will remain on the political landscape in the UK. Clearly there is a huge amount of uncertainty and this is weighing heavily on Pound vs Euro rates.

We could have further developments over the weekend so make sure you’re well prepared for further uncertainty surrounding Pound Euro exchange rates.

If you would like a free quote when buying or selling Euros, or would like to discuss anything you have read in my Pound to Euro forecast, then please contact me directly using the form below. I look forward to hearing from you.

Pound to Euro rate continues to fall, making history in the process

Pound to Euro rate continues to fall, making history in the process

Pound to Euro rate update: The losing streak for the Pound this month continues to hit financial headlines, and although the drop isn’t anywhere near as dramatic as we saw in 2016 when the Brexit vote took place, records are being broken.

Pound to Euro rate: The Pound continues to weaken against the Euro

Yesterday was the 13th consecutive day of losses for the Pound against the Euro. At the beginning of the month when cross-party talks between the Conservatives and Labour were reportedly positive we saw the Pound to Euro rate almost hit an annual high, when it almost traded as high as 1.18.

Since then, and as the talks broke down and as PM Theresa May’s position has come under increasing pressure, the Pound to Euro rate has lost over 3.5% as the rate has dropped now for 13-consecutive days between the 6th of May until the 22nd so far.

Theresa May expected to step down as PM on June 10th

Those of our readers monitoring the Pound to Euro rate should be aware that later today reports suggest that Theresa May could announce her resignation date, after coming under pressure to announce it has been increasing recently. Rumours suggest a departure date of the 10th of June. This would ensure she remains in the position for longer than Gordon Brown did, I don’t think she will want the label of shortest term in office.

We could see the Pound soften in value further if Mrs May is to be replaced by a more hard-line Brexiteer, so this topic is worth keeping on top of if you’re planning on making a currency exchange involving the Pound and the Euro moving forward.

There are no major economic updates due to release for this week out of the UK or the Eurozone, and on Monday there will be a bank holiday in the UK so the Pound’s price changes could be minimal between now and Tuesday but it will be interesting to see whether the fall for Sterling vs the Euro continues.

If you would like to discuss Pound to Euro rates, or have any questions about an upcoming currency exchange, please feel free to contact me directly using the form below and I will respond personally.

Pound to Euro exchange rate forecast: Sterling falls due to UK politics

GBP/EUR Brexit Special Parliament votes for extension, how will Pound to Euro exchange rates react?

In today’s pound to euro exchange rate forecast we look at the last 14 trading days, during which time the pound has devalued daily against the euro. At the start of the month pound to euro mid market exchange rates were trading close to 1.1750 and at the time of writing this report mid market exchange rates are 1.1320. The pound has been on the decline due to political events in the UK.

Will Theresa May’s Brexit deal get the green light?

UK Prime Minister Theresa May is under severe pressure at present and only this morning her closest colleagues are suggesting that the PM will announce her departure date tomorrow. Earlier this week the Prime Minister set out her new Brexit plan, but the reality is that the deal is extremely similar to the deal that MPs have voted on previously. The chances of MPs giving the green light is extremely unlikely.

Will the pound strengthen against the euro?

Looking further ahead I expect the pound is going to continue to come under pressure against the euro as I believe the Prime Minister’s days are numbered. Once the leadership contest is over, I expect a Brexiteer will take over at No. 10 and the UK’s position in regards to Brexit will change. The Brexiteer will not have the power to crash the UK out of the EU, however the EU may give up on the UK, therefore the UK could crash out by default.

Pound to euro forecast: How could the European elections affect GBP/EUR rates?

In the short term, Europeans take to the polls over the next couple of days, with the UK and Netherlands attending today. Polls in the UK are suggesting that the Brexit party and Remain parties should do well. However I actually expect the voting patterns in other European countries will dictate the direction of GBP/EUR rates short term. If there is an increase in seats for far right groups, passing new legislation in the years to come is going to be difficult and this could provide an opportunity for clients buying euros.

If you are buying euros short term and have waited this long, holding off until the election results are published may be your best option.

If you are buying euros and would like help to get highly competitive rates whilst being supported with regular economic information, feel free to fill in the form below and I will contact you directly. If you have sold property or are in the process of selling property abroad and need to repatriate back to sterling again feel free to fill in the form below.

Are we heading towards a UK General Election and / or Second Referendum?

Are we heading towards a UK General Election and / or Second Referendum?

The Pound has seen its value dip against the Euro this morning, losing almost half a cent during early morning’s trading.

Why is the Pound weakening?

The Pound is now floating just above 1.15, having failed to make any significant inroads against the Euro since last week’s gains were eliminated.

The Pound had seen its value improve off the back of an apparent breakthrough in cross-party Brexit talks at the beginning of last week, but subsequent reports have indicated this not to be the case, with the Conservatives and Labour still at an impasse.

The Pound has been steadily sold-off by investors since this juncture and has now lost over two cents from last week’s highs.

How could the European elections affect exchange rates?

With European elections on the horizon, we could be set for further market volatility. With Nigel Farage’s Brexit Party gaining increasing support, are the UK’s political parameters likely to change as we head towards a new dawn?

In truth, the outcome of these may have little bearing on the UK’s future political landscape but still have the capacity to affect investors risk appetite for the Pound, which in turn could impact the value of GBP/EUR over the coming weeks.

Looking at the current levels and they remain within the recent range, which has seen the GBP/EUR exchange rate remain fairly docile over recent months.

Any aggressive upturn for the Pound is likely to be linked to a prospective breakthrough in Brexit talks.

To try and facilitate this breakthrough, the Prime Minister has sent her Chief Brexit negotiator Olly Robbins to Brussels to discuss changes to the political declaration on the UK’s future relationship with the EU.

This move is intended to meet a key Labour demand in the cross-party talks. With senior Tory and Labour MPs writing to Theresa May and Jeremy Corbyn respectively, requesting that the talks be abandoned, any breakdown could cast further uncertainty over the final outcome of Brexit.

With very failure to find common ground over Brexit, whispers of a second referendum or a possible general election continue to gather pace.

If you would like to ask me a question about GBP/EUR exchange rates or would like to discuss a Pound to Euro transfer please feel free to contact me directly using the form below.

Pound to Euro exchange rate ends the week on a high – GBP/EUR over 1.17

Pound to Euro forecast How will markets react to the next UK Prime Minister

The Pound to Euro exchange rate had a great end to the week, rising above 1.17, as investors and speculators rushed to back the Pound in Friday afternoon’s trading session.

Why has the Pound risen against the Euro?

It is thought that the reason behind the spike in the market is that many now believe that due to the poor performance for both the Conservative and Labour Parties in local elections Theresa May and Jeremy Corbyn could well move a little faster to reach a compromise to get Brexit moving along with a little more pace than the current sluggish one we have been dealing with.

Pound vs Euro: Brexit has been holding back the GBP/EUR rate

The uncertainty surrounding Brexit has no doubt been holding back the Pound against all major currencies and should this uncertainty lift or even speculation start to rise over an agreement potentially getting closer in the cross party talks then Sterling exchange rates could have a further lift to come.

Is now the best time to buy Euros?

Current interbank Pound to Euro rates are up over 1.17 following a long period of being stuck in the 1.15s which makes a huge difference for those looking to buy an overseas holiday home in France, Spain, Portugal or any other region involving Euros. Even the movement in rates from the high to low point today would make a difference in cost of over £1800 so it once again shows how important it is to buy your currency at the right time.

The currency markets have been unusually quiet in terms of volatility for a few months now and this could be the start of seeing pairings such as GBP/EUR moving a lot more again. In situations such as these it is crucial that you have an experienced and proactive currency broker on your side.

Should you wish to find out more about how I can help you with a potential currency exchange then you are more than welcome to contact me directly. You can fill in the form below and I will be happy to get in touch.

Having worked in foreign exchange for almost 12 years now I have helped thousands of clients with their currency transfers and I always welcome a chat about the exchange rates. Should you wish to have a discussion about Pound / Euro exchange rates then fill in the form below and I will be more than happy to contact you personally.

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