The EUR has come under further pressure of late, with GBP finding plenty of support ahead of the UK’s impending Brexit deadline. As a EUR forecast for you, this could be of interest.
Currently, the UK is still set to leave the EU by March 29th. However, with this date fast approaching, an extension to Article 50 looks like the only remaining viable option.
It looks near-impossible for the UK to agree the final terms of its exit within the current timeline. Once again, this highlights how little progress the government has made over the two-and-a-half years since Article 50 was initially triggered.
Despite this lack of clarity over the UK’s final Brexit position, the Pound has enjoyed a prosperous couple of weeks. This has been of detriment to the EUR, which has seen its value slide accordingly.
The single currency is in a precarious position currently, as its value continues to fall, despite the obvious problems still aligned to Brexit.
Investors’ confidence in the Pound seems to be slowly returning, as the prospect of a no-Brexit deal outcome diminishes. Despite this more positive outlook, following last week’s vote by MPs to not push forward with a no-deal, it must be remembered that it is still the UK’s default position, should a deal ultimately fail to be agreed.
Despite this level of uncertainty remaining, the markets have decided to take a more positive view and the Pound has reacted accordingly.
Pound Euro exchange rate forecast
The EUR has suffered not only due to an upturn in market sentiment surrounding Brexit, but also due to concerns surrounding the Eurozone economy.
With economic concerns hampering growth in the major linchpin economies of Germany, France & Italy, there are fears of this downturn filtering out to the remaining 16 states. This seems to be having a detrimental effect on the EUR value.
Add to this the upcoming impact of the UK leaving the EU, plus the European Central Bank’s (ECB) decision to end their monetary support programme at the end of 2018, and it is easier to understand why the EUR is coming under increased pressure.
If you have an upcoming EUR currency transfer to make, you can contact me directly on 01494 787 478. We can help guide you through this turbulent market and, as a company, we have over 19 years’ experience in helping our clients achieve the very best exchange rates in any given market.
Our award-winning rates can be accessed very easily over the phone, and I can keep you posted with key market developments ahead of any prospective exchange you need to make.
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