The Pound has strengthened once again today against the Euro, this time almost hitting the 1.16 mark at its highest level.
Positive sentiment surrounding the Pound and UK economy recently has been increasing, as not only are the Bank of England almost certain to hike interest rates in the UK up to the highest levels since the UK exited the recession almost 10-years ago, but there is talk of further potential hikes later in the year.
At the same time the UK and EU negotiators have agreed on the transitional Brexit deal which has boosted the Pound, as this topic has been one of the major concerns for investors since the vote almost two-years ago.
April is usually a good month for the Pound for a number of reasons. For 13-years in a row the Pound has performed well during this month as there is usually an increase in incoming capital during April as dividends are paid to UK based shareholders from foreign businesses etc as its the beginning of the financial year.
This week was quiet in terms of economic data, but moving forward I expect economic data along with Brexit related news to have an impact on the Pounds value against the Euro as well as other major currency pairs.
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 email@example.com and I will endeavour to get back to you as soon as I can.