Over the last few days it appears that cracks are showing in Chancellor Angela Merkel of Germany and French President Emmanuel Macron relationship as a speech on Thursday showed that they weren’t singing on the same hymn sheet. The EU are trying to have a draft plan of reforms by the EU by the summit which is going to take place at the end of June.
French President Emmanuel Macron has a vision to have a European bailout fund which is to be used when there is a financial crisis and he wants an independent finance minister. However Mrs Merkel is under pressure as the conservative party are concerned that a bailout fund would hurt German tax payers.
If it’s the case that Angela Merkel has to choose between the EU or Germany, as she has lost popularity recently I expect she will choose Germany and therefore this could put pressure on euro exchange rates. Euro sellers need to follow this story closely.
In regards to GBPEUR exchange rates the pound lost momentum this week as UK inflation dropped to 2.5%, retails sales numbers plummeted and last night Governor Mark Carney hinted that an interest rate may not happen in May. For euros buyers I expect rates could fall next week, therefore I would recommend getting in touch over the weekend to outline your requirement.
The currency company I work enables me to achieve better rates than the high street banks whilst providing clients with economic data which helps them to time their currency transfer. If you are purchasing a property abroad / have sold a property abroad and would like to repatriate your currency, a business owner and needs to buy and sell GBPEUR for stock or just have a one off currency requirement feel free to email me on email@example.com.