The Pound to Euro exchange rate fell back into the 1.12’s today, as the Pound continues to come under pressure due to a number of ongoing issues.
There hasn’t been any economic data out of the UK today that has added pressure onto the Pound, but the talk of issues within the current Conservative government along with speculation regarding UK PM Theresa May’s position is beginning to put pressure on the Pounds value.
The current headlines surround Cabinet minister Priti Patel who has hit the headlines over the past few days for carrying meetings with key Israeli personnel without informing the UK government.
It’s likely that she will be sacked within the next 24 hours which is unlikely to push the Pound lower as it’s now expected, but it’s not doing an already under pressure Theresa May any favours.
With plans of a further two-interest rate hikes over the next 3 years the markets weren’t buoyed by the move from the BoE last week, and I think that is there is talk of there being no hikes due to the UK economy underperforming expectations, I expect to see the Pound fall.
If you would like to be updated regarding any short term price movement between the pair in question, do feel free to get in touch.
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 as 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 do come to 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 firstname.lastname@example.org and I will endeavour to get back to you as soon as I can.