The Pound vs the Euro has endured a difficult period recently with the Pound hitting three month lows to buy the Euro during this week.
The European Central Bank has suggested that they are considering bringing their current QE programme to an end and will do whatever is ‘necessary’ and my suspicion is that this will finish towards the end of this year.
Inflation in the Eurozone appears to be under control and with the continent announcing their best growth rate in 10 years earlier in January the single currency has continued to remain very strong.
Indeed, it is very close to its strongest level against the US Dollar in history demonstrating how well the economy is doing globally at the moment.
Turning the focus back to the UK the Pound is struggling owing to the continued Brexit uncertainty.
We are now almost a year since the triggering of Article 50 and little has so far been agreed between the UK and the European Union.
The EU summit is due to take place on March 22-23 and many are hoping that this could be the catalyst for giving the Pound and with the tone of Brexit having softened recently I think this could give the Pound a lift if the talks go well.
Next week Chancellor Hammond will announce his Spring Statement and although this is not expected to last very long this could cause some volatility for Sterling exchange rates.
If he talks positively about growth this could provide the Pound with some support so make sure you pay attention during the speech.
If you would like to be kept updated with what is happening to Sterling Euro exchange rates or indeed any other currency pair and would like a free quote then contact me directly and I look forward to hearing from you.
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Email me directly Tom Holian firstname.lastname@example.org