In this Pound v Euro forecast, I’ll tell you that, with the Brexit negotiations having been extended until the end of October, I am now seriously getting to the stage where I don’t think that Parliament will actually be able to deliver Brexit.
Since December, we have gradually seen the Pound improving against the Euro, and the various Brexit deals that have been put in front of MPs have been repeatedly rejected.
With the 29th March deadline now having passed with the UK extending Article 50, I think the longer this drags out, the less likely that Brexit will actually happen.
The European Union clearly does not want the UK to leave the bloc, as it could potentially mean that other countries may look to do the same. This could lead to the end of the European Union in the future.
This is why I think the EU is not prepared to negotiate much further than what it has previously offered.
The House of Commons have not come up with much of an alternative to the current offerings, and I think that Theresa May’s attempt to get Labour to help with the talks are a waste of time.
Clearly, the personalties of May and Corbyn are unlikely to agree on much, so I cannot see the benefits of trying to cobble something together.
Should I buy Euros now or wait?
In the short term, I think the Pound will continue to come under pressure against the Euro until we get further into the year. So, if you’re hoping to see much of an improvement in Sterling’s favour, then you might be waiting for some time.
Therefore, the chance of the Pound recovering may rely on the Euro coming under pressure in the months ahead.
We certainly have a tricky period ahead for the single currency, with the Spanish general election due to take place next week. Political uncertainty will often weaken the currency involved, so if you have a currency transfer to make, then pay close attention to the Spanish election coming up soon.
If you would like to save money on exchange rates compared to using your own bank, then contact me directly for a free quote. I look forward to hearing form you.
Tom Holian firstname.lastname@example.org