The Pound has just started to tail off from its recent monthly highs with the Pound vs the Euro hitting the higher level of the 1.13s on the Interbank level.
The Pound’s fortunes have been improving during November as the tone concerning Brexit appears to be going in the right way.
The divorce bill has been spoken about a lot over the last few days and there are rumours that the UK are looking to put a deal together which is about EUR50bn according to some sources.
Although this is purely speculation at this point the markets have taken it very well.
Indeed, with the next EU summit due to take place in a fortnight if a deal can be done this could pave way for trade negotiations to start which could really help the Pound make some gains vs the single currency.
On Tuesday there are a number of economic data releases which are likely to cause movement for the Pound vs the Euro.
Eurozone Retail Sales data is due to released and this could cause a lot of volatility for the Pound vs the Euro as published on the same morning is UK Services Data for November.
Owing to the uncertainty there has been a huge increase in demand for forward contracts which allows you to secure an exchange rate for a future date with a small deposit. This eliminates the risk of where markets may move in the future.
If you need to make a currency transfer over the next few days or weeks and would like further information or a free quote when buying or selling currency then feel free to get in touch.
Having worked in the foreign exchange industry since 2003 I am confident of not only being able to offer you bank beating exchange rates but also help you with the timing
To find out more contact me directly Tom Holian firstname.lastname@example.org