The EUR has made significant inroads of late, as the Pound’s value continues to diminish.
The markets remain extremely sceptical regarding the upcoming Brexit negotiations, with the negative focus seemingly shifting further towards the UK’s side and away from the EU.
Let’s not forget that the EU are losing an integral member of the single member state, with the ramifications of this as yet, remaining unclear.
The current market continues to surprise investors, with political & economic uncertainty in the UK dragging the Pound’s value down.
The EUR has been one of the main benefactors of this demise but in my opinion, it has inadvertently boosted to the current levels (GBP/EUR trading below 1.14), due to the unrest surrounding the UK at present, rather than an overriding confidence in the Eurozone and ultimately the single currency.
This is why I have been advocating to all my clients that they look at this as a short-term opportunist market and react accordingly.
Today could play a key role in the on-going sage, with the Queens Speech scheduled for 11.30. In it she will outline the government’s plan for Brexit but with current Prime Minister Theresa May failing to win a majority at the recent elections, how this will play out over the coming weeks will depend on any deal agreed with the controversial DUP party.
Moving away from the political sphere and it is Brexit negotiations that are likely to be the driving force behind market sentiment for months to come. The UK have already backtracked during the opening days of negotiations, with the EU seemingly already carrying the upper hand.
Whilst this is likely to handicap any major advances for Sterling, EU sellers would be wise to take advantage of the current window of opportunity and remove any on-going risk from this most unstable of markets.
Now is the time to contact a personal currency broker and here I can help guide you through this turbulent market. I assist my clients with the timing of their currency transfers, to help you maximise any market value.
We can offer award winning exchange rates & service, for all our clients currency requirements.
Please feel free to contact me if you would like to be kept up to date with all the latest market movements, or simply wish to compare our rates to those of your current provider.
I am available on 0044 1494 787 478 between 08.30-18.00 and just ask one for the team for Matthew. Alternatively, I can be emailed directly on email@example.com