The Brexit has clearly dominated the rate to buy Euros with Pounds for a long time now and at the moment we appear to be stuck in a state of limbo with GBPEUR rates that are trading within a tight range since the start of the year.
After hitting a 9 month high last week with rates trading above 1.15 on Thursday the market has now started to fall again after negative reports from across the water on the continent.
One proposal is that the EU are suggesting that post Brexit in March 2019 until December 2020 that if the UK maintains EU law during this transitional period then any new laws created by the EU within this time period will have to also be adopted by the UK without our say which is clearly not good news for government.
Indeed, Prime Minister Theresa May has also been under a lot of pressure but she has committed her future to the UK and will remain in place as long as possible.
March will bring with it the latest round of Brexit talks with phase 2 due to begin which will be crucial and could cause big movements for GBPEUR exchange rates so if you’re in the process of buying a house in Europe then it may be worth looking at buying a forward contract which allows you to fix an exchange rate for a future date.
If you have a need to make a currency transfer buying or selling Euros in the near future then feel free to contact 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 compared to your bank or another currency broker.
Even a small improvement in the exchange rates can make a big difference so feel free to to email me and you may find you could save yourself hundreds if not thousands of Pounds. You can email me (Tom Holian) on firstname.lastname@example.org and I will respond to you as soon as I can.