The Pound has experienced one of the most volatile weeks of the year so far moving by over 3 cents from the high to the low or the difference of £2,300 on a currency transfer of €100,000.
The week started off badly for the Pound when Theresa May announced that she had delayed the Brexit vote after it appeared as if there was not enough support to get it through parliament.
At the moment it appears as although the UK has decided in favour of a Brexit this will be extremely difficult to get this through parliament no matter what the deal could end up looking like.
On a number of different occasions Prime Minister Theresa May has spoken about her commitment to leading the UK towards Brexit and although she survived the vote of no confidence on Wednesday I think her days are getting closer to being numbered.
The European Court of Justice has suggested in a couple of recent statements that the UK can actually revoke Article 50 at any point before the 29th March 2019 and if they decide to do it then I think the likelihood is that Theresa May will end up resigning as she will have failed to lead the UK towards Brexit.
Yesterday, Theresa May was once again meeting with officials but any suggested changes to the current deal have not been offered so it looks as though the deal is again at a stalemate. The next big date for the Brexit will come on 14th January when the next vote is planned.
The Pound has been trading in a relatively tight range this morning and with little economic data due out today I think it will be the political news that will dominate what will be happening to Pound Euro exchange rates in the run up to the end of the year.
Having worked in the foreign exchange industry since 2003 for one of the UK’s leading currency brokers I am confident that I can offer you bank beating exchange rates as well as helping you with the timing of your currency transfer.
To find out more or for a free quote then contact me directly and I look forward to hearing from you.
Tom Holian firstname.lastname@example.org