When to buy Euros? Bank of England could help the Pound rise

If you’re looking for information about when to buy Euros, it may be help you to know that all eyes will turn to the Bank of England (BoE) at lunchtime today. This is the BoE’s time to discuss interest rates and future monetary policy, after the US Federal Reserve (Fed) had its opportunity yesterday.

Whilst the Fed opted to keep interest rates on hold, it suggested that a rate cut could come as soon as next month. This impacted the US Dollar and equity markets.

We could see a similar occurrence today this time at the BoE. No interest rate amendment is expected, but any suggestions of future rate changes could impact the Pound’s value. There’s plenty of uncertainty surrounding the central bank’s plans at the moment, owing to lack of clarity surrounding Brexit.

This aside, the UK Conservative Party’s leadership contest continues today. International Development Secretary Rory Stewart was eliminated yesterday. Today, the fourth and final round of voting will take place to leave just two members. Once just two remain, there will be a ballot of the 160,000 Conservative Party members to decide the winner, who will then become the Prime Minister.

Best time to buy Euros

I expect the leadership contest to also hold the potential to influence the Pound’s value. However, we may have to wait until there is a shock or we’re in the final stages before the rate is impacted. At the moment, Boris Johnson is the favourite to win, so if this changes the Pound is likely to be influenced.

If you have a large currency exchange to carry out in the coming days, weeks or months, then you are more than welcome to speak with me directly. 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 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, Joseph Wright, on jxw@currencies.co.uk. I will endeavour to get back to you as soon as I can.