Euro slides to lowest rate against the Pound since June 2017

Today we have seen Euro exchange rates drop off by almost 1% against the Pound, sliding to the lowest level we have seen for those bringing Euros back into Pounds for almost a year.

The past few weeks have seen confidence flooding back to the Pound, with a potential interest rate on the horizon and highly likely to come in May from the Bank of England and very little negative news regarding brexit, sterling has rallied and made good gains against the Euro.

For anyone with the need to buy Euros with Pounds in the near future this is fantastic news, we are now sat at the best level we have seen for GBP/EUR since June 2017 which is a great buying opportunity.

The Pound has been on a slow rise this year and today’s further boost shows once again that confidence in the U.K economy and indeed the Pound, is rising, but we do still need to be cautious that it would only take one bad piece of economic or Brexit news to stop it in its tracks.

For those who are regular followers of our site you will more than likely be aware that these spikes in the market do not seem to stick around for long – well they certainly haven’t since the EU Referendum anyway!

Tomorrow is fairly thin on the ground for economic data around Europe so you may see this trend continue as the week nears an end, with possibly some profit taking knocking it back as we enter the afternoon.

German inflation at 07:00am and European Trade balance figures at 10:00am are the two key points of note.

If you have a large currency exchange to make involving Euros then it is well worth you contacting me directly. You can get in touch with me by emailing me (Daniel Wright) directly on djw@currencies.co.uk and I will be more than happy to contact you personally to see how I can help you. We offer highly competitive exchange rates along with help on timing your transaction and would like to think our customer service is way above and beyond elsewhere. I look forward to speaking with you.