Prime Minister may has brought forward talks with Conservative MP’s today in a bit to cobble together much needed support for their future affiliation with the DUP, with the Pound suffering from the almost panicked urgency of her move.
The next stage of Theresa May forming her Government, given that she did not win enough seats to form an outright majority, is to put together a legislative agenda which will be voted on in Parliament allowing her to proceed officially as Prime Minister.
She will have to make amendments to satisfy the Conservative’s unofficial partners, the DUP in order to secure their much needed votes. This issue is selling those concessions to her own party, who were frustrated with her recent gamble, which didn’t pay off.
There has already been an announcement in the delay to roll-out her legislative agenda, at the same time she brought forward her meeting with MP’s from the Conservative Party. Clearly May is expecting anything but a smooth process.
Details of the meeting will either be released or leaked over the next 24 hours, with the positive or negative nature of the news governing any changes in the value of the Pound.
News can be released at any moment in these situations, which means opportunities can suddenly emerge, but currently the opportunities appear to be confined to Euro sellers. The risk is very much laid at the feet of Euro buyers as it stands.
This is largely compounded by the French situation as well. Whilst the UK Government is facing an uncertain few weeks the French are heading towards strong majority support for their latest President as he presents sweeping pro-business reforms. This contrast from across the Channel should add pressure for GBP/EUR to drop below 1.13.
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 email@example.com 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.