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Sterling hits 6 week high to buy Euros following Trump victory (Tom Holian)

Friday, November 11, 2016 22:23
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Pound Sterling exchange rates vs the Euro have continued to rise this week following the US election result.

This good news will hopefully bring about some positive news to businesses that import from overseas and also to anyone who is looking to buy property in France or Spain or indeed any other European nation as Sterling has gone up against all currencies this week.

GBPEUR exchange rates are now at their highest level in 6 weeks to buy Euros and the Pound made even further gains following the positive news from the construction industry. It appears as though the subject of Brexit and Article 50 has disappeared at least over the last few days as the US election news grabs all the headlines.

Prime Minister Theresa May has already congratulated Donald Trump and focused on our strong ties with the US whilst many European leaders have not been as complimentary.

Trump was previously a big advocate of the Brexit and with Obama previously stating that the UK will go to the back of the line in terms of negotiating  trade deals if it voted out of the European Union it could actually be good news for the UK that Trump will be the next President of the US.

There are further worries on the continent with Italy looking to hold a referendum and France having their own election next year. Indeed, next year there could be a big political shift in Europe with Germany also set to have their own election.

With inflation on the rise in the UK this has also meant that the Bank of England are now extremely unlikely to cut interest rates which has also helped to give the Pound some further strength against the Euro.

Having worked in the foreign exchange industry since 2003 I am confident that I can offer you bank beating exchange rates and also help you with the timing of your currency 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

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