In today’s look at when to buy Euros, I’ll tell you how the Pound has had a difficult last few days, after getting close to its best level in almost two years this time last week.
The Pound got close to hitting 1.18 last week, but fell just short, after it appeared as though the cross-party Brexit talks between the Tories and Labour were going well.
However, since the bank holiday weekend, the Pound has fallen by almost two cents. Sterling fell once again during yesterday’s trading session, when Labour leader Jeremy Corbyn claimed that Prime Minister Theresa May has done little to take things forward together.
This has seemingly put on hold any chances of Brexit being concluded in the near future, and is one of the main reasons for the Pound’s losses during the course of this week.
Later today, the UK will announce its latest set of GDP data, for the first quarter of 2019. The expectation is for an improvement from 1.4% to 1.8% year-on-year, so anything different is likely to cause volatility for GBPEUR exchange rates.
Pound v Euro forecast
Clearly, the Brexit uncertainty is still causing problems for the UK’s economy. However, I think owing to the good weather a few weeks ago, this could have had a positive effect on retail sales with consumer spending on the high street.
Therefore, we could potentially see some positive news for GDP and, if so, this could provide the Pound with a boost vs the Euro.
I have worked in the foreign exchange industry for one of the UK’s leading currency brokers since 2003. I’m confident that I save you money on exchange rates, compared to using your own bank or currency broker. I can also help you with the timing of your transfer, by keeping you up to date with market movements.
If you would like a free quote when buying or selling Euros, and would like to save money on exchange rates compared to using your own bank, then contact me directly for a free quote. I look forward to hearing from you.
Tom Holian firstname.lastname@example.org