Well GBPEUR has finally risen after a very tough few month for Euro buyers! Expectations on interest rate rises for the UK in the future have led to sterling finding favour and rising against all currencies including the Euros. With GBPEUR having been languishing below 1.10 for so long and now having risen to 1.1270 at the highs today, we have to ask ourselves what happens next?
Next week is a very important one for the Euro since we get the German election and start to understand who will be the next German Chancellor. This will have profound implications not just for the Euro and GBPEUR but also global politics. Angela Merkel is of course the favourite but we could easily see an upset like we saw in the UK election only a few months ago.
The result is due on the 25th and the last real times to be discussing positions with clients will be the 22nd. If you have a transfer to make buying Euros making some plans in the coming week seems very sensible to avoid disappointment down the line. Ultimately it looks like the GBPEUR rate will drop back to 1.10 before it rises to 1.15, if I have Euros to buy next week could be the time to getting something done!
The currency markets change every second and for a variety of reasons, getting the best rates can be achieved through our specialist and proactive service to help you capitalise on the situation. For more information at no cost or obligation please speak to me Jonathan Watson by emailing email@example.com.
Thank you for reading and I look forward to hearing from you in the future.