If you’d like to know when to buy Euros, it may interest you to know that, yesterday afternoon, the Pound to Euro rate hit day highs of around 1.1580, after seeing a slight upturn as the day progressed.
The reason behind the climb in the Pound’s value against the Euro, as well as against many other major currency pairs, can be put down to Prime Minister Theresa May’s position remaining safe, at least for now.
Recently, there have been calls from a grassroots level to amend a longstanding Tory Party rule, allowing for another vote of no-confidence regarding Mrs. May’s position. Yesterday, the 1922 Executive Committee of backbench Conservative MPs voted against amending the rule, so May will remain safe for now.
However, they have asked the Prime Minister to outline a timeline for her departure, after she previously mentioned that she doesn’t intend to stay on, once a Brexit deal has been arranged.
Pound Euro exchange forecast
Economic data is light for the remainder of the week so, like yesterday, politics will likely remain the key driver of currency fluctuations involving the Pound for the remainder of the week.
Next week on Thursday could be when economic data releases impact GBP exchange rates. This is when the Bank of England’s interest rate decision will be announced, along with a raft of other data releases and speeches regarding the economy.
If you would like to be updated in the event of a major market movement, or you would like to plan around this event, do feel free to register your interest with me.
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. 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 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 email@example.com and I will endeavour to get back to you as soon as I can.