The Pound vs Euro exchange rate is eagerly anticipating what is due to happen later today as Prime Minister Theresa May is due to hold her latest speech on Brexit.
So far this morning the Pound has dipped slightly against the single currency as investors are pricing in some form of negativity.
Therefore, if the speech comes out positively then we could see this as the catalyst to send GBPEUR exchange rates in an upwards direction.
Theresa May is due to set out a total of five tests involving the UK and EU deal and is likely to try and bring the nation together arguing that a free trade deal is in the interests of both parties.
However, we are almost a year into the discussions now and with a year to go I do not foresee the Pound making any significant upwards movement until we get much more clarity especially when it comes to how trade will work post-Brexit.
Theresa May has already dismissed a customs union and dismissed the plan to keep Northern Ireland in the customs union as this would involve having a hard border between Northern Ireland and the Republic of Ireland.
Over the next few days the Italians will go to the polls to elect the new leadership of the country.
At the moment it is likely that a coalition will be formed between the Northern League and Forza Italia and as they are both pro-European this could cause the Euro to strengthen.
However, if there is a noticeable vote for the Five Star Movement this could result in Euro weakness.
If you would like to be kept updated with what is happening to Sterling Euro exchange rates and would like a free quote when buying or selling Euros then contact me directly and I look forward to hearing from you.
Tom Holian firstname.lastname@example.org