Euro buyers have seen a very gradual and creeping movement back in their favour since the flash crash in the marketplace 10 days ago. Today the Pound has held its value for the sixth consecutive trading day, and may actually gain ground against the Euro over the next few days.
With the main narrative and chatter surrounding the Pound at the moment being dominated by the Brexit and the current timeline surrounding the enactment of Article 50, normal market forces have largely been left unforgotten.
Tomorrow inflation data for the UK economy will be released for markets to trade on and evaluate the value of the Pound, based on the positive or negative nature of the news.
Frankly, we’ve already had some very positive data for the UK economy this month, it has simply been overshadowed by some of the major headlines – namely the deadline for Article 50 mentionned above and the very strong langauge from both sides of the Channel indicating the potential for a hard Brexit and shock to the marketplace.
Business confidence in key areas of the UK economy is through the roof. In some instances thanks to the cheap Pound, in others due to the stimulus package boosting the UK economy from the Bank of England. Inflation is also improving with healthier price rises closer to the Bank of England’s target suggesting a UK economy being robust enough to handle the shock.
This inflation news will be coming out tomorrow at 9:30am and could see the Pound recover some lost ground against the Euro if market expectations are confirmed.
I strongly recommend that if you have a buying Euro requirement you should contact me on email@example.com to discuss a strategy for your transfer in order to maximise your currency return.
I have never had an issue beating the rates of exchange on offer elsewhere, and these current buying levels can be fixed in place for anyone planning a foreign currency transfer later in the year and are worried about where prices may fall too in the future.