The Pound has struggled against the Euro this afternoon after challenging 1.18 on the Interbank level earlier today.
However, as tomorrow is the last working day before the French elections due to take place this weekend there are for me 3 possible scenarios likely to affect the Pound to Euro exchange rates.
Macron wins convincingly which results in Euro strength vs the Pound as stability is maintained in France.
Macron wins with a small majority which proves there is still an anti-establishment feeling in France which could weaken the Euro.
Marine Le Pen wins and this results in a huge problem for the Euro causing Sterling Euro rates to break through 1.20 and above. Le Pen has already said she will hold a referendum on France staying in the EU so this could cause problems for the single currency.
In my opinion I think Option 2 is the most likely and therefore we could see the Pound improve against the Euro by Monday.
However, as we have already seen during 2016 with both the Brexit vote and Trump it is impossible to know exactly what will happen but my prediction is for Option 2 with Macron winning with a small majority.
If you’re concerned about what may happen tomorrow then call me in the morning after 830am and ask for me directly on 01494787478 and ask to speak with Tom Holian when calling the trading lines.
Having worked in the foreign exchange industry since 2003 for one of the UK’s leading currency brokers I am confident not only of being able to offer you better exchange rates when buying or selling you Euros but also help you with the timing of your currency transfer.
If you would like further information or a free quote when buying or selling Euros then contact me directly an I look forward to hearing from you.
Tom Holian firstname.lastname@example.org