The Autumn Statement didn’t really throw up too many surprises yesterday but the Chancellor did confirm a new incentive which pledged to commit £23bn on infrastructure in the coming years.
There were no real negatives to pick out which is why we saw Sterling Euro exchange rates hit their best level to buy Euros in 2 months. Good news for anyone looking to send money to Europe at the moment.
The Office of Budget responsibility has downgraded the UK’s growth forecast for 2017 from 2.2% to 1.4% but it did also suggest that it is difficult to predict how the UK will leave the European Union.
With the High Court having ruled that Theresa May will need parliamentary approval before she is able to trigger Article 50 the next challenge will take place in December when the Supreme Court meets to discuss the issue.
However, although the challenge will take place in December the answer may not be given until January.
The good news for Sterling Euro exchange rates carried on when the International Monetary Fund stated that the UK will outperform other countries in terms of growth.
UK GDP figures are due out tomorrow morning for the third quarter and it should make interesting reading as it’s the first full quarter since the Brexit vote back in June.
Depending on how the figures go in the morning this could cause further movements for Sterling vs Euro exchange rates.
Having worked in the currency markets since 2003 for one of the UK’s leading currency brokers I am confident of being able to offer you bank beating exchange rates as well as helping you with the timing of your transfer of funds whether buying or selling Euros.
If you have a currency transfer to make and would like to save money compared to using your own bank then contact me directly for a free quote and I look forward to hearing from you.
Tom Holian email@example.com