The pound is performing much better against the Euro and if certain conditions are met, we could easily see a move to the higher teens or even 1.20 in the coming weeks and months. Such a move is not straightforward and will require a number of different elements to align for the UK and the Eurozone. If you wish to buy Euros at 1.20 then please let me know and I can monitor this prestigious rate for you!
We need to see some further progress on Brexit, namely there to be agreement on the Irish border and also there to be some hints of a Trade deal too for the UK and the EU. This could be very realistic in the coming months, the Irish Prime Minister wants a deal to be concluded by the end of June. A final Trade relationship will be the biggest hurdle but any hints of this could see GBPEUR rise to that higher-teens level.
On top of this, we would also need to see progress with the Bank of England raising interest rates which is a very real possibility in the coming months and weeks. The next Bank of England meeting is on the 10th May which could trigger some improvements for the pound. To see GBPEUR hit the 1.20 level we will also need the Euro to weaken as a result of the political fears in Italy and Spain.
If you have a transfer to make in the future then keeping up to date with the latest news and trends is vital to achieving the better rates. For more information on getting the best rates plus news on the likelihood of hitting 1.20 please do email me Jonny at firstname.lastname@example.org.
Thank you for reading and I look forward to hearing from you.