Despite the UK economy picking up steam to the extent that the Bank of England is considering raising interest rates, gains for the Pound have been limited recently as a number of issues surrounding the Brexit clearly need ironing out.
Brexit related news along with comments from senior figures regarding the discussions are the main movers for GBP exchange rates at the moment, so those of our readers planning on making a transfer involving the Pound and the Euro should close attention to this topic.
There is currently a very public argument between senior politicians regarding the stance of the UK post-Brexit on the customs union, and how the UK will operate during the transitional period and afterwards.
The UK’s Prime Minister, Theresa May will be speaking on Friday which could potentially move markets depending on what’s said. Last week there was a key meeting between a number of senior cabinet members at her country residence, the Chequer’s which took place behind closed doors.
There is also some key data releases this week such as UK Manufacturing tomorrow morning. Do feel free to get in touch if you wish to plan around this event or any other similar data releases.
As next month approaches I expect to see the Italian election hit the headlines as there are a number of anti-EU movements in the country which could dent the Euros value depending on the election outcome.
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.