Since David Cameron announced the UK would hold an referendum in regards to EU membership exchange rates have fluctuated 9 cents and a well timed €200,000 purchase could have saved you £11,000. Its important to note GBPEUR rates at present are close to 4 month highs and the best levels since the UK Prime Minister made is announcement.
This weekend Former Mayor of London Boris Johnson has been back in the media criticising David Cameron last manifesto, in regards to the promises he has made about immigration. According to the Office for National statistics the difference between the number of people coming to the UK for at least a year and those leaving, rose to 333,000 in 2015. The government made promises this number would drop to below 100,000.
The UK Prime Minister response has been to brush the comments aside and is back to informing the UK public that a ‘Brexit’ according to 9 in 10 economists will have a detrimental impact to the economy for many years.
It seems to me there is a Tory division occurring at present and no doubt within the next 4 weeks more mud will be thrown be each party and therefore I expect volatility to increase, which will intern put pressure on the Pound and therefore exchange rates will fall.
Presently GBPEUR rates are sitting at levels where we were before David Cameron announced a UK referendum would be held June 23rd. If you are buying Euros in the next 6 months I believe its worth buying all of the Euros up front by using a spot or forward contract and therefore taking the EU referendum completely out of the picture.
If you are looking to buy or sell Euros this year (especially before June 23rd), the currency company I work for enables me to achieve clients up to 5% better exchange rates than the high street banks and other brokerages. I specialise in property purchases and sales.
Therefore if you are buying or selling a property this year and want to save money by achieving the best possible exchange rates but also want help in timing your transfer, get in touch by emailing me on firstname.lastname@example.org. Alternatively if you would like to discuss your requirements over the phone call 01494-787478 and ask to be put through to Dayle Littlejohn
The more information you provide me, the more information I can provide you. Below is a list of what I require: your name, currency pair, brief description of requirement, amount, budget, timescales, telephone number and convenient time to call.
*Please notes due to the Bank Holiday weekend I will not be back into the office until Tuesday morning*