The pound to Euro rate has improved for Euro sellers today which has been triggered by a weaker pound and also a lack of fear and uncertainty over the Spanish election which takes place today. The election concerns Catalonia and the potential for a pro-independence government to get elected which would lead to a destabilisation in the region.
If you have a transfer buying or selling Euros in the future then making plans in advance is a key way to maximise the transaction in such a volatile period. Many clients looking to buy or sell GBPEUR will be conscious of developments in the progress of Brexit, this has been a big driver for GBPEUR rates, particularly for the pound. The pound is effectively a barometer of Brexit progress and at the moment markets are cautious!
The Euro could come under some significant pressures in 2018 as we have the Italian election which might see the market fearful over the many anti-EU sentiments prevailing in Italian politics. Themes dominating Italian politics concern primarily the lack of unity and the presence often of a coalition.
Silvio Berlusconi is expected to be making a comeback and his presence on the Italian European and global stage will do little to calm investors nerves over what the future Italian government will look like. If you have a transfer to make in the coming months and weeks buying or selling Euros against the pound, make sure you have checked in with us here to get the latest news and information on the rates and the markets.
For more information on the best strategies and plans to help maximise your currency exchange please contact me Jonathan Watson by emailing firstname.lastname@example.org. Merry Christmas and we look forward to hearing from you!