The Pound vs the Euro has fallen from its recent 2 month highs hit earlier this week after Theresa May’s speech in Florence did little to provide any certainty for the markets.
In what was expected to be a big mover of exchange rates the speech did little and therefore we saw a slow fall in the value of Sterling exchange rates vs the Euro.
Tomorrow the latest German election is due to take place with current Chancellor Angela Merkel due to win for a fourth successive term.
This is my opinion is likely to strengthen the Euro vs the Pound as typically when the status quo is maintained politically this usually helps to strengthen the currency involved in this case the Euro.
As we head into next week we have Inflation Report Hearings due on Tuesday followed by UK GDP figures due on Wednesday.
The recent Inflation figures over a week ago helped to provide the Pound with support which led to a 2 month high to buy Euros with Pounds so I expect the report on Tuesday could provide another opportunity for Sterling to pick up against the single currency.
Overall, I expect to see Euro strength during Monday with the Pound set to make gains towards the middle part of the week.
If you have a 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 (Tom Holian) on firstname.lastname@example.org and I will endeavour to get back to you as soon as I can.