If you’re after a Pound to Euro forecast, it may interest you to know that it’s been a terrible 10 weeks for the Pound against the Euro, with mid-market levels falling week-by-week. At the start of May, GBP/EUR mid-market levels were trading close to 1.1750 and currently exchange rates have dropped to below 1.11. To put this into monetary value, a €100,000 purchase now costs client an additional £4,984 compared to only 10 weeks ago.
The Tory leadership contest is in full swing, and front-runner Boris Johnson has made is clear that he’s prepared to leave the EU with or without a deal at the end of October. So the chances of the UK crashing out of the EU are increasing by the day, and that’s why the Pound continues to fall. The market has already priced in that Boris will win next week. However, I still expect to see another fall in the Pound’s value and GBP/EUR mid-market exchange rates to fall below 1.10.
Euro forecast next 6 months
Even though the PM is changing in the UK, there is still an underlying problem and that’s that MPs do not support a ‘no deal’ Brexit. Therefore Boris or his rival, Foreign Secretary Jeremy Hunt, have a problem on their hands. If the EU are not prepared to renegotiate the Withdrawal Agreement, I believe the new leader will have no choice, and the UK will be back to the polls to take part in the next general election. All in all, it looks like another 6 months of uncertainty for the Pound against the Euro.
If you are buying or selling Euros this week, month or year and I have not covered the currency pair you are trading, I would recommend emailing me with the currency pair (EURUSD, EURGBP, EURAUD) and the reason for the transfer (company goods, property purchase). I will response with my forecast and the options available to you, email@example.com. Alternatively, if you would like to discuss your requirements over the phone call 01494 787478 and ask to be put through to Dayle Littlejohn.
If you are already using a brokerage and would like to know if you are receiving the best rates possible, email me with the exact figures and I will reply with our live price. This will take you a few minutes and in the past I have saved clients thousands!