The Euro is now likely to weaken as we approach a period of uncertainty over what is happening next in the Eurozone and European area politically. With the UK having voted to leave the EU and fresh political conflicts being triggered from the UK’s Brexit vote and Donald Trump’s election investors are fearful over what could be around the corner for Europe. Fresh fears over the economic performance in the Eurozone could lead to more QE (Quantitative Easing) which would seriously hamper the strength of the Euro.
Unfortunately if buying Euros with pounds the recent improvements and the potential for further improvements are by no means guaranteed! With the pound under pressure from the outlook ahead following the implications from Brexit, investors relying on Euro weakness to close the gap on the huge swings on GBPEUR since June might end up disappointed.
The outlook on GBPEUR has been made much more pleasant for Euro buyers with political and economic event aligning to present an increased chance of some improvements in the kind of rate Euro buyers might expect. I would suggest treading with caution and there are various key events to consider in the next few weeks including the UK’s Autumn Statement and the next ECB (European Central Bank) meeting. There is also the US Interest rate decision which could cause big swings on EURUSD which will affect GBPEUR rates.
If you are planning a transfer soon or int he New Year the current levels of exchange could be very interesting to you. Understanding the market and all of your options is critical to putting yourself in the best possible position to maximise your exchange rate. We offer here a preferential rate and a personal service all designed to help you make a decision with insight and confidence.
For more information please speak to me Jonathan Watson by emailing email@example.com or filling in the form below. I have worked for 7 years as a specialist foreign exchange broker and would be interested to hear from and assist you personally.