The Pound has hit it’s best levels against the Euro in the last 10-weeks today after the pair were seen trading at 1.14 for much of the day at the mid-market level.
This is in start contrast to just a few weeks ago when they were trading at 1.07 so we’ve seen quite alot of movement in recent weeks with most of it being put down to political uncertainty.
The Euro is still feeling the negative effects of the German election this past weekend, as despite winning a 4th consecutive term Angela Merkel’s Christian Democratic Union party has lost some ground to the far-right AfD party.
This appears to be the main story resonating out of European politics at the moment but with the unofficial Catalan referendum on independence now just around the corner I think there is a chance the Euro could fall further.
Tomorrow morning there will be the release of UK GDP data which could push the Pound higher, or lower if it disappoints. Personally I expect politics to continue to drive the pair and I wouldn’t be surprised to see further price movements similar to what we’ve seen recently in the future.
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.