Sterling has gained against most major currency pairs including the Euro today, after the likelihood of a interest rate hike from the Bank of England is looking more likely.
Thursday lunchtime is when the Bank of England interest rate decision will be announced, so if you’ve got an upcoming currency requirement involving the Pound and would like to plan around this event, do feel free to get in touch for updates should there be a big swing between the GBP/EUR exchange rate.
Aside from the expected rate hike this week, Sterling has been boosted furthermore after the European Union’s chief Brexit negotiator, Michel Barnier earlier said that he’s ready to speed up negotiations with the UK.
The Pound to Euro rate hit its highest level this month today after breaching the 1.14 mark at its highest level. If there actually is a rate hike I’m not expecting to see it climb much further because the rate hike appears to be priced in, but I do think that if there is no hike, we can expect to see the Pound fall as there is likely to be a lot of disappointed investors.
If you wish to be updated should there be any major moves later this week, do feel free to get in touch. There are a number of other news releases that could move markets, mostly providing us with an overview of how the UK economy is performing across a number of sectors.
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.