In the very early hours of Monday morning currency markets will open once more following a poor showing for the Pound heading into the weekend, with buying Euro rates dipping to the worst levels seen this year before recovering.
The initial drop came when exit polls predicted an uncertain period with a hung parliament. But with some immediate negotiating, the 4 days of negotiating which 2010’s hung parliament brought was avoided and the Pound recovered.
However, Euro buyers are not out of the woods yet.
Tomorrow the Conservative legislative agenda has to be voted in, and Labour are desperate to use this as a platform to call for another election and undermine Conservative authority. We will have to see how happy all Conservatives are at the concessions made to keep the DUP on side for the next 5 years. If they arent, you ma see some MP’s break ranks, undermining Theresa May’s authority.
Markets will also react to the content of the agenda as well, not simply how well it is recieved.
How will this impact the Brexit agenda? Will tomorrow’s Commons session paint the picture of a Government who will struggle to operate efficiently in the face of major opposition? Will May be able to hold onto her position?
I am well positioned to assist anyone with a buying or selling Euro currency requirement to time their transfer and stay informed in this fluid marketplace. You can contact me directly on firstname.lastname@example.org to discuss a strategy for your transfer and your options.
One final point is that I have never had an issue beating the rates of exchange on offer elsewhere, and these current buying levels can be fixed in place for a future requirement you have planned using only a small deposit, eliminating any risk from further currency exchange movements.