The Pound fell sharply at the end of last week after it’s become clear that a Brexit transitional deal for the UK isn’t assured.
Comments from the EU’s chief Brexit negotiator, Michel Barnier spooked the markets on Friday when he warned that a transitional deal isn’t assured. Comments on how the Brexit plans are coming along have the scope to move markets along with similar comments from his UK counterpart, David Davis. Brexit related updates do appear to be the biggest mover of the Pounds value at the moment, especially as the deadline for talks approaches.
The final arrangements for the Brexit deal are expected to be cleared up in around 6-weeks from now, and it will be interesting to see what Foreign Secretary, Boris Johnson has to say about the arrangements so far as he will be speaking tomorrow in what’s supposed to be a push to unite leavers and remainers. He will be making the first of a series of speeches from Cabinet members this month discussing Brexit.
If you would like to be notified in the event of a spike in the Pound to Euro exchange rate do feel free to register your interest with me, as the pair are mainly driven by politics at the moment so it can be difficult to judge when the rate will spike next.
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 email@example.com and I will endeavour to get back to you as soon as I can.