The EUR has enjoyed a better run of late, with the Eurozone economy showing signs of strength again after a difficult period.
German economic growth has helped restore investor confidence in the region, helping to downplay concerns over an export-led slowdown.
The EUR has made gains against both GBP and the USD over recent weeks, with GBP/EUR rates trading back around 1.11. The Pound had threatened to make a run on the Euro last week but mixed reports over a prospective Brexit deal with the EU have muddied the waters once again. In truth, no one really knows where the negotiations stand at present and whilst a deal is still the most likely outcome (75% according to Reuters), the current uncertainty engulfing the entire issue is diluting investors risk appetite for the Pound. This in trrun is also helping to support the EUR around the current levels.
Looking at EUR/USD exchange rates and the EUR has shown particular resilience in the face of President Trump’s trade tariffs, which were threating to derail Eurozone economic growth. The EUR has gained over three cents against the greenback over the past month, hitting a high of 1.1658 this morning.
Longer-term, the implications of a growing global trade crisis could have an impact on Eurozone growth but for the time being, the Eurozone economy is showing an admirable resilience to the pending global trade crisis.
In other news, the Catalan leader Quim Torra will relaunch his regions campaign to split from Spain, rebuffing an offer from the central government for a referendum for greater autonomy. He feels this will fall a long way short of their desire for independence and as such, this potentially destabilising issue could resurface over the coming weeks and months. This in itself could be a negative for the EUR but is unlikely to have a direct impact on its value for the time being.
If you have an upcoming EUR currency transfer to make, you can contact me directly on 01494 787 478. We can help guide you through this turbulent market and as a company we have over eighteen years’ experience, in helping our clients achieve the very best exchange rates on any given market.
Our award-winning rates can be accessed very easily over the phone and I can keep you posted with key market developments ahead of any prospective exchange you need to make.
Feel free to email me directly on firstname.lastname@example.org to find out all the options available to you ahead of your currency transfer.