Pound to Euro exchange rates have already seen a healthy improvement to begin the week as my post yesterday pointed to, and we may be seeing further gains this week based on current expectations.
The Pound has improved following what has been one of the longest periods of stability on Sterling exchange rates since the Referendum itself. The difference between the high and the low on Pound to Euro exchange rates in this period has been under two cents. This is largely unheard of in recent years.
Why are analysts confident this trend will be broken?
Firstly, Sterling has seen its largest jumps or losses against the Euro when new developments emerge regarding any potential Brexit deal. In January the recovery surrounding the Pound where rates jumped by 6 cents on GBP/EUR by the first week of February, was attached to the Supreme Court ruling and debate in the House of Commons on Parliament’s role in the Brexit.
The next development is currently underway with the bill going through the House of Lords on whether further checks and balances will be placed on the Government. These include mandatory updates on the negotiations every three months, and guaranteeing votes on any deal reached.
Whatever your personal politics, investors are much happier to back the Pound when additional oversight is guaranteed. As such this news may break us above the 1.17 levels we have become accustomed to for so long.
The debate in the Lords will continue to unfold and as such it is important to be up-to-date with this information so that once it is released any peaks which emerge, and which can be short-lived, are missed out on. To be kept informed over the next few days, you can contact me on email@example.com to discuss a strategy for your transfer aimed at maximising your currency return.
I am on hand in order to ensure you make a well informed decision on when to make that particular transfer, as well as helping you to benefit from highly competitive exchange rates from one of the UK’s leading foreign currency brokerages. Just provide me with a basic outline of your currency requirement and I will be back in touch with you as soon as possible.
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