Since the UK public decided to vote out of the EU close to a year ago, GBPEUR exchange rates have fluctuated 25 cents in a year. A lot has happened in the last 12 months, high court ruling, supreme court ruling, and a UK general election, but after all of these events Brexit negotiations are set to start Monday.
EU officials have made it clear the divorce settlement needs to be sorted before official Brexit negotiations begin and this could be a problem for sterling. I believe negotiations could stall early which would put further pressure on the pound.
A positive for the pound last week is that UK inflation improved to 2.9% which has forced 3 members of the Bank of England to vote in favour in favour of raising interest rates. Past history tells us when interest rates are raised by a central bank investment enters that country and therefore the currency strengthens.
Economic data is light this week, the most important release to look out for this week is the ECBs monetary policy accounts.
For further information in regards to GBPEUR exchange rates feel free to email me with the reason for the transfer (company goods, property purchase) and timescales you are working to and I will respond with the options available to you and the process of using the company I work for firstname.lastname@example.org. Alternatively if you would like to discuss your requirements over the phone call 01494-787478 and ask to be put through to Dayle Littlejohn.
** If you are already using a brokerage and would like to know if you are receiving the best rates possible email me with the exact figures and I will reply with our live price. This will take you a few minutes and in the past I have saved clients thousands! **