In today’s look at “Will the Pound to Euro exchange rate continue to drop?”, I’ll tell you that Sterling has begun to come under some pressure recently. The Pound has lost some value against the majority of major currency pairs over the past few weeks.
When the no-deal Brexit was ruled out, the Pound had been buoyed and hit annual highs against the likes of the Euro. However, since then the positive sentiment surrounding the currency has waned. The Pound has dropped by almost 3 cents versus the Euro, which demonstrates the Pound’s weakness.
Those of our readers following the GBP/EUR pair should also be aware that the current EUR/USD rate is trading around annual lows. This goes to show that the Euro isn’t strong at the moment, but the Pound is softening. Hence, the GBP/EUR price movement.
Pound to Euro exchange rate forecast
Sterling hasn’t been helped by the added uncertainty, now that the can has been kicked down the road regarding Brexit. With another 6 months of uncertainty regarding the UK economy, this is likely to have a negative impact on the Pound’s value.
The uncertainty has weighed on the Pound’s value as well as the UK property market. Yesterday it emerged that price growth has dropped to 0.6% year-on-year, which is the lowest growth rate in over 6 years.
With Brexit being pushed back, I think that economic data releases will be followed closely for signs of a slowdown. So if you wish to be updated if there is a major market movement, please feel free to register your interest with me.
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. 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 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.