Last week exchange rates to buy Euros rates cheapened following a very a suddenly announced, and frankly game-changing, speech given by Theresa May on Tuesday.
Throughout the week all analysts have been continually fleshing out the specifics of the speech due to its signficance to the Brexit proceedings, the UK economy, and therefore to the value of the Pound.
GBP/EUR rates soared back into the mid 1.10’s following the promises made by Theresa May that Parliament will continue to be consulted on the Brexit process, and will have final say on any deal reached.
Parliament is seen with loving eyes by financial markets in times of great change as a moderating actor. This statement from Theresa May essentially imbued greater confidence to financial markets that a less severe break from the EU, or at least, a delayed break, will occur. This confidence from an investor standpoint translated into a Stronger Pound against its Euro counterpart.
The final look at the mechanics of the Brexit will be revealed with the the Supreme Court decision on Parliament’s role in triggering article 50, to be released at 9:30 UK time. These heavy indiactions by May already suggest that Euro buyers will get the result they are hoping for, and the Pound will be lifted with the confirmation that November’s decision by the Judicial court will be upheld.
Coupled with UK GDP to be released on Thursday of this week there is ample opportuntiy for Euro buyers to secure a competitive rate, with little news coming out of the Eurozone to steal any much of the Pound’s spotlight.
So watch this space, with so much governed by politics a premium will be put on being able to move quickly should any news come out which improve or create added expense to a planned currency exchange.
As such is you are planning on making a currency exchange involving the Pound and the Euro, it is well worth your time getting in contact with me on firstname.lastname@example.org to ensure you are in a well-informed position to make a decision regarding any impending or future currency requirement, and can benefit from the highly competitive exchange rates from one of the UK’s leading foreign currency exchange brokerages.
Just provide me with a basic outline of your requirement, and I will be in contact with you as soon as possible while markets are quiet preceding the Monday rush.