As predicted in my recent article published over the weekend the Pound has continued to weaken against the Euro as the single currency continues to go from strength to strength. The Euro is now currently close to an 18 month high vs the US Dollar and the highest level to buy Pounds since October 2016.
UK inflation published this morning came out 2.6% which was in line with expectation and this is likely to discourage the Bank of England from looking at raising interest rate anytime in the near future.
Indeed, with the most recent vote this month showing a 6-2 split in favour of keeping interest rates at their historic low I cannot see this changing in the near future.
The Brexit negotiations are still taking place but as yet very little positive noises have been made and I have not seen anything on the short term to provide the Pound with some support and this is another reason why I think GBPEUR exchange rates may continue to move in the wrong direction for anyone looking to buy Euros to send to the continent.
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.