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

GBP EUR Stuck in Range at 1.1700 Level

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

Pound Euro Exchange Rate: Risk of Volatility on No Deal Brexit

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

GBPEUR Sees a Sharp Rebound with ECB Stimulus Plans

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.

GBP/EUR rates remain in the 1.15s despite PM May’s position coming under pressure

GBPEUR Exchange Rate Breaks Over 1.14 Again, Could Sterling See Further Gains Against the Euro?

Despite trading in a mixed fashion against most major currency pairs today, the pound to euro (GBP/EUR) rate is currently up and trading towards the top of it’s daily range against the euro despite a number of domestic issues.

The headlines this morning revolve around the Prime Ministers position, despite Theresa May surviving a vote of no-confidence as recently as December there could be another challenge to her position as it’s emerged that around 70 local association chiefs have called for an Extraordinary General Meeting to discuss her position. If pressure mounts on her to step down, this time from a more grassroots level, we could see sterling come under pressure as it would no doubt increase the uncertainty surrounding Brexit.

Now that the UK has another 6-months to arrange the details of the Brexit arrangement, my personal take is that a change of leadership would result in a drop in the pounds value. It’s likely that politics will remain the key driver for Pound Sterling value but due to the delay and no deal being in place, I think that economic updates may be watched a bit more closely now, in case the uncertainty surrounding the UK results in a drop off in the UK economy.

Volatile pound vs euro (GBP/EUR) rates

This week is very quiet for economic data releases, and the pound’s value is surprisingly mixed so far today so it’s likely that political updates along with economic updates from outside the UK will be the main drivers of GBP value. It is worth noting that tomorrow at 9.30am the Public Sector Net Borrowing figures will be released, and this release will cover the amount of debt held by UK governments. If you would like to be updated regarding this release do feel free to register your interest.

On Thursday there will be a speech from the European Central Bank’s De Guindos, and this is also worth being aware of in case any references to monetary policy are made. The speech will start around 1.30pm.

For more information on how upcoming events could affect your GBP/EUR currency exchange, feel free to use the form below to get in touch. I’ll be happy to respond personally and discuss your requirements.

Pound to Euro rates: What next for Brexit and GBP/EUR rates?

GBP EUR Exchange Rate: Weekly Review April 9th

The pound to Euro exchange rate has often been quoted as a barometer of the Brexit uncertainties, and to no real surprise it has gently drifted lower this week as we head into the UK Easter weekend. The absence of any new positive news has seen the pound lower and investors, clients and other interested parties are not comfortable holding sterling because of the precarious nature of what lies ahead.

Pound to Euro rates lower, but still higher than the start of 2019

It is well worth pointing out that those buying Euros with pounds are still performing trades at a very high level. A £250,000 purchase of Euros will today deliver an €14,000 extra compared to January 1st. The optimism that a ‘no-deal’ Brexit is now much less likely, or will not happen at all has seen the pound supported.

The outlook ahead for Euro exchange rates had been rather shaky and could continue to be in the months ahead. This is owing to increased political questions (more on which later), and economic concerns too. However, the latest weakness has subsided, as the potential for a breakthrough in the US-China trade talks, provides some optimism over how US-EU talks will pan out.

Will GBP/EUR rates rise or fall in April and May?

Overall those looking to purchase Euros with pounds have, I feel great concerns ahead, since Brexit uncertainties do outweigh concerns on the continent. Moving forward we have two major political tests too, the UK local elections on the 2nd May and the European elections on May 23rd.

Personally, I expect the pound to suffer during these as voters reject Theresa May and Jeremy Corbyn for their poor handling of Brexit so far. The belief is that both parties will suffer, with the Tories expected to suffer the most.

We are already seeing signs of the Brexit Party performing well in the polls and this could bode well for Mr Farage and further complicates the already fractured picture on Brexit.

What next for pound to Euro exchange rates?

I foresee a lower range for GBP/EUR rates of the 1.10-1.11 is still a real possibility if events take certain directions. With any surprise optimism we could retest the 1.18 handle, providing further opportunities for Euro buyers.

If you have a position to buy or sell the pound against the Euro, there are no shortage of events to move the rate. Forecasting is no easy feat, but with our expert knowledge of the FX markets and many years’ experience, we can provide an informed voice to provide options and discuss strategy.

Thank you for reading my latest pound to Euro forecast. If you would like more information on GBP/EUR rates or have a currency transfer you would like to discuss please feel free to contact me using the form below:

Pound to euro rate increases: Will Theresa May and Jeremy Corbyn’s talks break the Brexit impasse

Pound to US Dollar Exchange Rate Rebounds as Boris Heads to Brussels to Break Brexit Deadlock

Overnight the pound to euro rate increased by half a cent, off the back of the news that UK Prime Minister Theresa May offered an extended arm to Jeremy Corbyn to get involved with the future direction of the Brexit negotiations. To put this into monetary value the improvement could generate a client an additional €1,000 on a £200,0000 transfer.

Is the UK heading for Customs Union access?

In recent weeks Labour leader Jeremy Corbyn has made it clear that the Labour party want some form of customs union access. Therefore for Theresa May to offer the leader of the opposition to get involved, it appears that the PM will now change her approach and go down the route of a softer Brexit. The problem the PM has is that many of her cabinet members have stated that resignations are on the horizon if either the PM looks for a long extension or customs union access.

Looking ahead, all eyes now turn to the meeting between the two leaders. If they manage to come to a compromise MPs within the House of Commons will have a vote on the Brexit deal before the EU summit on the 10th. In addition, if they fail to reach a compromise the Prime Minister has offered to allow MPs to vote on different alternatives in a bid to find a majority that they can take to the EU.

Pound to euro rate increases as no deal looks less likely

With the recent voting patterns in Parliament and Theresa May’s decision last night, in my view it looks like the most likely option is a long extension. The reason being is that MPs don’t support a crash out Brexit and it doesn’t look like there will be a 4th meaningful vote on Theresa May’s deal. This is being reflected with the current GBP/EUR mid market exchange rates above 1.17. However as we know the ongoing Brexit saga continues to keep us on the edge of our seats as anything could happen. For clients that are buying euros short term, mid market levels are 1 cent off the best rates we have seen in 20 months, if Cabinet resignations follow the PMs meeting with the leader of the opposition this could put pressure on the pound.

For clients that are converting pounds to euros in the upcoming week, the key economic data to look out for this week is, the ECB monetary policy meeting accounts released Thursday afternoon and Non-Farm Payroll numbers released Friday afternoon for the US.

For more information on the data releases and how they could impact pound to euro exchange rates feel free to fill in the form below and I will contact you shortly.

Pound to Euro forecast – Brexit limbo and the effect on GBP/EUR rates

Brexit Uncertainty Keeps Pound Low

Sterling to Euro Forecast – Brexit Uncertainty Increases

This morning Theresa May is expected to update ministers regarding her position on the current Brexit strategy when she chairs a meeting of her Cabinet today.

It has been rumoured that if she names a date of resignation it could boost support for her Brexit deal. There have been no comments from Downing Street in regards to Mrs May’s resigning at this stage.

Theresa May has suffered defeat twice when her Brexit deal has been put to the vote in Parliament and it is still unclear whether she will bring it back a third time this week. Mrs May has said it will only be put before Parliament if it has sufficient support.

It seems one of the major concerns for MPs is related to whether Theresa May will to be involved in the next phase of Brexit talks, trade negotiations, following the extension of Article 50.

May perhaps did not make the wisest move last week blaming the need for a Brexit extension on MPs. There have been rumours of a plot to oust her. If this was the case this could hit Sterling value hard, adding more uncertainty to the situation.

May had invited those against her deal to Chequers to assess whether she can gain support for her deal to then put it before Parliament. At present there does not seem to have been any significant progress.

MPs are expected to speak today in order to set a schedule for a series of votes on alternatives to May’s Brexit plan which is obviously a concern for the PM. There could be as many as six other options to the current deal.

How could Brexit affect exchange rates?

It is now more difficult than ever to predict which how Brexit could affect the Pound’s value. I am surprised Sterling is holding up so well against the majority of the major currencies.

The pressure is now on to come up with a solution in a limited period of time. A resignation from the PM would no doubt add to the volatility on GBP/EUR rates. If you have to buy Sterling short term it maybe wise to consider a Stop/Loss order to protect yourself should a no deal scenario become more apparent. It is important to remember current rates of exchange are still impressive, the GBP/EUR rate has a very strong resistance point at 1.15 for over 20 months.

If you have a currency requirement I will be happy to assist. It is crucial to be in touch with an experienced broker when the market is currently so hard to predict. If you let me know the details of your trade I will endeavor to produce a free trading strategy to suit your individual needs. you can contact me directly using the form below:

What will happen to the Pound Sterling to Euro exchange rate as 29th March approaches? Brexit latest

Pound to Euro: 9th Round of Brexit Negotiations Resume Today

Sterling exchange rates have started the week by remaining fairly steady as we enter crunch time for Theresa May and the UK, coming into the last two weeks of Brexit talks.

Yesterday, news that the Speaker of the House John Bercow was not prepared to allow yet another attempt at getting a meaningful vote through did lead to a slight drop off in the value of the Pound, but there are still various paths that Brexit could take over the next few weeks. We only have 10 days left before the deadline.

The Brexit deal could still be approved

We still cannot rule out Theresa May having her Brexit deal go through Parliament, even with John Bercow’s latest ruling. Prime Minister May is still locked in talks with the DUP and other members of Parliament that are currently against the deal. If she can turn enough heads then Parliament can overturn John Bercow’s ruling as long as they have a majority. This is quite a way off being possible yet but should she manage to pull this off then I would expect Sterling strength due to the certainty it brings back to the UK.

A Brexit delay could be agreed with the EU

The most likely outcome at present is that Prime Minister May will end up approaching the EU for an agreement to delay the Brexit date. It had been suggested this could be for as long as two years but could just as likely be for a much shorter period.

It would be no surprise to see this also give the Pound a slight lift, due to the fact that it could suggest that Brexit could end up being a totally different beast. It also opens up the door for the possibility of a second EU referendum or even a general election before any further major changes. It could also lead to the possibility of Brexit not even happening at all.

Either way if the delay was for a long period of time I would be surprised to not see Theresa May step aside and to let someone else take the reins.

The EU could refuse to delay Brexit

In order to delay Brexit all 27 EU countries need to come to an agreement that they are happy for this to happen. There is a chance that the request for a delay could be refused and this would be one option that could lead to Sterling weakness.

A refusal for a delay will almost back the UK into accepting the deal they currently have or to face the prospect of leaving with no deal.

No deal has been the big worry for investors and speculators as it brings a great deal of uncertainty and could lead to Sterling losing a lot of value until there is greater certainty on future plans.

There are also other twists and turns that could happen over the next 10 days and I personally would not rule anything out at this stage as we just do not know what is going on behind closed doors, so it would be foolish to make a stern prediction.

It does seem that most avenues to lead to Sterling strength but if you are in the process of a large overseas purchase, or bringing a large volume of foreign currency back into the UK then you need to make sure that you have a proactive and efficient currency broker on your side. With all the politics involved you need to make sure that you are ready and in a position to move quickly should the opportunity arise.

If you would like to speak with someone here at Pound Sterling Forecast who will be able to explain the various options you have available, along with making sure that your current provider or bank are offering you the most for your money in this key time, then feel free to fill in the form below and we will make sure we get in touch for a no obligation discussion with you shortly.

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