Sterling vs the Euro exchange rates have had a difficult start to 2017 having seen falls against all major currencies and a big fall since just before Christmas.
The uncertainty surrounding the issues of the Brexit are still weighing heavily on the value of Sterling and until this is resolved we are likely to see problems for the Pound against the single currency.
Currently Prime Minister Theresa May has spoken out about the Brexit issue and has confirmed that unless she is granted full border control then the UK may look to leave the single market which has caused problems for Sterling against the Euro.
The Euro has continued to fall against the US Dollar hitting its lowest level in 14 years recently but the single currency continues to strengthen against the Pound demonstrating the huge problems facing Sterling at the moment.
Indeed, during the week both construction and services data both came out better than expected but this did little to help lift the value for the Pound vs the Euro.
This highlights the problems for the Pound and until we have some form of resolution surrounding the Supreme Court judgement which is due this month I think the Pound will continue to suffer against the Euro.
Therefore, if you need to buy Euros in the near future it may be worth looking at buying a forward contract which allows you to fix an exchange rate for a future date.
Next Wednesday the UK will announce both Industrial and Manufacturing data which have in recent times caused big movements for Sterling exchange rates particularly vs the Euro.
Having worked in the industry since 2003 I am confident that not only can I save you money on exchange rates when buying or selling currency but I can also help you with the timing of your transfer.
If you have a currency transfer to make and want to save money on exchange rates compared to using your own bank then contact me directly for a free quote and I look forward to hearing from you.
Tom Holian email@example.com