Those planning on making currency exchanges involving the Pound and another major currency have a lot to consider in the current market, with the overall picture for the Pound being particularly mixed.
The headlines over the past week will highlight that the Pound is trading around it’s highest levels against the Euro this side of the new year, but in my opinion these headlines are creating almost a false sense of security regarding the Pounds value and the currency isn’t quite as strong as many may think.
When you compare the Pounds value with the ‘commodity currencies’ such as the Australian Dollar, the New Zealand Dollar and the Canadian Dollar you’ll see that the Pound is trading around multi-year lows.
The fact that the formal start to the ‘Brexit’ is now most likely less than one month away and all eyes are likely to be on the UK and how it’s economy is performing during this uncertain time, I personally think that there could be further falls to come for the Pound over the next few months and especially if there are breakdowns in trade negotiation talks.
GBP/EUR hitting new 2017 highs can be put down to Euro weakness as the Euro weakened across the board earlier this week. The Euro weakened as a opinion poll in France confirmed that far-right French Presidential hopeful Marine Le Pen is gaining popularity. Le Pen gaining traction could spell trouble for the Euro as she’s outlined plans for France to leave the Euro and start using the French Franc again along with leaving the Eurozone.
Those planning a currency exchange between this particular pair may wish to register their details with us in order to be kept up to date with how this topic unfolds.
If you are planning to make a currency exchange involving the Pound and another foreign currency, it’s well worth your time getting in contact with me on [email protected] in order to ensure you make a well informed decision on when to make that particular transfer, as well as benefiting from highly competitive exchange rates from one of the UK’s leading foreign currency brokerages. Just provide me with a basic outline of your currency requirement and I will be back in touch with you as soon as possible.
You can also call in and ask reception to speak with Joe on 01494 787 478.