Euro buyers have experienced a fantastic spike in the market over the last 30 days with GBPEUR exchange rates increasing by 3 cents. To put this into monetary value a £200,000 purchase now achieve clients an additional €5,000.
The Bank of England’s stance in regards to interest rates has helped the value of the pound. It appears that an interest rate hike is likely for May as average earnings numbers have caught up with inflation. With the pound gaining so much value you would have to second guess that speculators are buying ahead of the event which is known as the market ‘pricing it in’.
Also the euro has devalued slightly as the central bank may have to extend the quantitative easing program longer than they expected. Many forecasters were suggesting that the QE program would be completed by the end of the year, however ‘trade wards’ between the US and China could have an impact on the European economy and that’s why the QE program may have to be extended.
The rates for buying euros are fantastic at present and for people buying euros for a property purchase abroad or have a business and need to buy euros I believe now is the time.
The most important element of Brexit which is the trade negotiations are set to start in the upcoming weeks and any negative commentary I expect will put severe pressure on the pound. Therefore I believe this is an excellent opportunity and one not to be missed.
The currency company I work enables me to achieve better rates than the high street banks whilst providing clients with economic data which helps them to time their currency transfer. If you are purchasing a property abroad / have sold a property abroad and would like to repatriate your currency, a business owner and needs to buy and sell GBPEUR for stock or just have a one off currency requirement feel free to email me on email@example.com.