Last year was a very strong year for the Euro, with the currency strengthening considerably against most other major currency pairs and most notably the US Dollar.
At one stage the Euro to Pound rate hit an 8-year high, with the currency pair spending the whole year considerably above their average rate over the past decade.
Some economists have recently shared the opinion that the Pound is undervalued after many investors have given the currency a wide berth due to both low interest rates coupled with the uncertainty that surrounds the Brexit, and how the UK economy will cope both during and after the Brexit process.
Now that the first round of negotiations are out of the way, and trade negotiations can now begin I think that this subject will remain one of the key drivers of Sterling value, and should there be a positive breakthrough I wouldn’t be surprised to see the GBP/EUR pair climb. The rate has remained range bound for around 6 months now and hasn’t broken through 1.15 during this time, but I personally think there will be opportunities to trade above this level should there be a breakthrough in trade negotiations.
If you wish to be notified in the event of a rate spike, do feel free to get in touch with me as working on a dealing floor allows us to update you straight away.
If you have a large currency exchange to carry out in the coming days, weeks or months then you are more than welcome to speak with me directly as I will be more than happy to help you both with trying to time a transaction and getting you the top market rate when you do come to buy your currency. A small improvement in a rate of exchange can make a huge difference so for the sake of taking two minutes to email me you may find you save yourself hundreds if not thousands of Pounds. You can email me (Joseph Wright) on firstname.lastname@example.org and I will endeavour to get back to you as soon as I can.