Sterling has begun the week in a strong fashion, and at the time of writing the GBP/EUR is pegged just below the 1.15 mark. This level is key as it’s the 10-month high and it’s acting as a resistance.
Those of our clients or potential clients making GBP to EUR transfers at the moment are doing so at the best levels since June of last year. Those hoping to improve on the current levels will need to see the rate hit new highs, and those with this plan can feel free to get in touch as discussing a Limit Order would be a good idea at this stage in case the Pound does see a spike.
It does appear that sentiment surrounding the Pound is improving, and last week there was a bout of poor data out of the UK economy yet Sterling hasn’t lost much value at all.
There is a quiet week on the cards for UK economic data releases, so I expect to see the GBP/EUR rate continue to be driven by sentiment. I would expect any talk regarding the Bank of England’s rate hike next month to impact the rates as the rate hike has been priced in already. Issues surrounding the Northern Irish border are also likely to impact rates, so those of our readers that wish to be notified in the event of a major move can feel free to get touch and register their interest.
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 firstname.lastname@example.org and I will endeavour to get back to you as soon as I can.