Over the last 4 weeks GBPEUR exchange rates have remained range bound between 1.12 and 1.1350 which hasn’t provided many opportunities for clients that are converting pounds into euros or euros into pounds. Both the pound and the euro have been performing well of late with GBPUSD reaching an 18 month high (1.38) and EURUSD reaching a 3 year high (1.22).
The pound has been performing well off the back of the news towards the end of last year that the UK could begin trade negotiations which are on going and the euro has been performing well as economic data has picked up which has prompted the European Central Bank to release hawkish minutes suggesting monetary policy could change.
Many of my clients that are involved with GBPEUR conversions are now asking which way GBPEUR exchange rates are heading and my personal opinion is that sterling is undervalued and it’s a matter of time until the pound makes inroads against the euro. Brexit negotiations are on going and the plan is to have everything wrapped up by the end of October therefore I expect positive news in the upcoming weeks.
For people that have held onto euros waiting for an improved rate, if I were in your position I would be trading sooner rather than later. For more information on how we can help you make as much sterling as possible feel free to email me directly on firstname.lastname@example.org.
Data releases that will impact GBPEUR exchange rates for the remainder of the week are Eurozone inflation numbers tomorrow morning at 10am and UK Retail sales numbers Thursday morning at 9.30am.
The currency company I work for has won numerous awards for exchange rates therefore it enables me to trade GBPEUR / EURGBP at rates better than other brokerages and high street banks. I would recommend sending an email with a brief description of your requirements and your timescales (this is very important, the length of time you have will change your options) and I will email you with my strategy and the process of using our company email@example.com. Dayle Littlejohn.
If you are already using a brokerage and would like to know if you are receiving the best rates possible email me with the exact figures and I will reply with our live price. This will take you a few minutes and in the past I have saved clients thousands!