Since the Scottish referendum the pound has been significantly strengthening against the Euro as all the uncertainty has been taken away from the UK economy. It has been around two weeks since the pound hit that low level of 1.2397 and is now back above 1.2750. For those in the need to sell Euros you may be wise to act sooner than later as it is unlikely that the pound will drop back to these levels. We actually expect rates to head towards the 1.30 level the closer we get to that all important interest rate hike in 2015.
We help many clients repatriate funds back to the UK at better rates than the high street banks and we will give you the information needed to help you decide when is the best time to make your conversion to help you minimise your risk to the market. We really do feel the longer you leave your position the worse the rate may get so you really should be looking at the options available to you to help you decide when to do your conversion.
With data thin on the ground over the next couple of days a Speech by the Bank of England Governor Mark Carney could give the pound a further boost assisting rates to be pushed up towards 1.28 and above for the first time in over two and a half years.
If you would like to discuss the service we can offer in helping you achieve the best rates of exchange then please feel free to contact myself Ben Amrany at firstname.lastname@example.org. I can explain all the options available to you and help you beat the rate of exchange that your banks offer.
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