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Sterling gains against the Euro following Trump victory (Tom Holian)

Thursday, November 10, 2016 2:25
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(Before It's News)

Sterling Euro exchange rates have gone in an upwards direction and improved by over 3 cents during yesterday’s trading session following the announcement that Donald Trump has become President of the United States of America.

With Trump having business interests in the UK and with close ties this has helped to improve Sterling’s value against all major currencies.

Previously Obama stated that the UK would go to the back of the line if it left the European Union so with a change of leadership this could be one of the reasons why Sterling has seen major gains against all major currencies.

Indeed, the UK exports 6% of its GDP to the US so Trump coming in could have its benefits to the UK

The Article 50 issue though is still likely to cause problems for Sterling exchange rates but this week’s news could provide a good window of opportunity for anyone looking to buy Euros.

Tomorrow morning Germany releases inflation data for October and as the Eurozone’s largest economy this could cause volatility for GBPEUR exchange rates if the data comes out different to the expectation.

The Italians will have their own referendum in December and with the Brexit vote and Donald Trump coming in this week it appears as though there is an air of change to the establishment so I would not be surprised to see the Italians looking to vote out of the European Union as well.

Having worked in the foreign exchange industry since 2003 I am confident that not only can I offer you better exchange rates than using your own bank when buying or selling Euros but also help you with the timing of your transfer.

If you have a currency transfer to make and would like further information or for a free quote then contact me directly and I look forward to hearing from you.

Tom Holian teh@currencies.co.uk

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