In today’s Euro predictions, I’ll tell you how, at the time of writing, the Pound to Euro exchange rate sits just above the 1.15 level, after gradually declining over the past week or so. The GBP/EUR rate is on a losing streak of 7 days, with trade levels now over 2.5 cents lower than the levels seen on Friday the 3rd of May.
The gradual decline has been prompted by diminishing hopes of a deal being stuck between Conservative and Labour leaders. They have been speaking behind closed doors since before the Easter break.
There have been calls from Conservative leaders to end the talks, as they don’t appear to be progressing. Also, there is the issue of a number of Labour members not wanting to agree to a deal, without another referendum being part of the agreement.
It has also been announced this week that there will be another vote on Prime Minister Theresa May’s deal in June. This is after the deal she has tried to put through Westminster has already been voted against 3 times.
Pound to Euro exchange rate forecast
Moving forward, this matter is likely to remain the key driver for GBP value, as we’ve seen so far this month. There are no economic data releases out of the UK today so we could have a quiet day during today’s trading session.
Later this morning, there will be Eurozone GDP data released. Then, on Friday there will be inflation data released, which could impact EUR exchange rates. So, feel free to register your interest with me if you wish to be kept updated.
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.