The Pound vs the Euro hit the best level in 9 months on Thursday to hit the Interbank level of 1.15 creating some excellent opportunities to send money to Europe.
The UK economy has appeared to remain robust in light of the uncertainty caused by the topic of Brexit and this was again proved yesterday morning with the release of better than expected UK GDP figures for the final quarter of 2017.
The UK economy grew by as much as 1.7% which was higher than the expectation of 1.4% and this led to the Pound maintaining its strong form of late.
UK manufacturing also grew during the same period and on Wednesday we saw the best unemployment levels of Wednesday since records began back in 1971.
Meanwhile the US Treasury Secretary Steven Mnuchin has said that he was ‘very supportive of the UK over the Brexit issue’ and is looking to organise a trade deal.
With phase 2 of the Brexit negotiations due to begin again in March I think we could see the talks go well.
Indeed, during the previous meeting back in December a lot was agreed allowing the next phase to start in the next few weeks.
Therefore, I think we could see some positive announcements and I think we could see the Pound make some gains in the next couple of months.
Therefore, if you’re considering selling Euros it may be worth looking at getting something organised in the near future.
On Tuesday the Eurozone announces its latest GDP figures for the final quarter as well as Eurozone Unemployment and Inflation figures so be prepared for a lot of volatility on GBPEUR exchange rates during the middle of next week.
If you have a need to make a currency transfer whether buying or selling Euros in the near future then feel free 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 compared to your bank or another currency broker.
Even a small improvement in the exchange rates can make a big difference so feel free to to email me and you may find you could save yourself hundreds if not thousands of Pounds. You can email me (Tom Holian) on teh@currencies.co.uk and I will respond to you as soon as I can.
