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GBP/EUR continues to soften despite positive UK data, will the Pound continue to fall? (Joseph Wright)

Friday, January 6, 2017 10:14
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The Pound is trading in the red once again today despite some positive economic data releases this week.

Data released this week has shown that business sentiment in the manufacturing, construction and most importantly, the services sector grew through the month of December yet despite the upbeat attitudes, the Pound has not moved upward off the back of the good new.

Throughout the week the Pound has lost over a cent against the Euro, and it’s likely that the reason behind Sterling’s weakness can be put down to Brexit jitters as we investors await the outcome of the much discussed Supreme Court decision.

Between the 12th and the 17th of this month the Supreme Court will announce the outcome of the governments appeal against the need for parliamentary approval before beginning the Brexit process.

I believe that this decision will remain the main driver of currency fluctuations between the GBP/EUR pair until the outcome is announced, and that anyone planning a currency exchange between the pair should pay close attention to how this topic unfolds.

If you would like to be kept up to date with the decision feel free to get in touch, as big moves can impact a planned currency exchange quite significantly.

If you are planning to make a currency exchange involving the Pound and the Euro, it’s worth your time getting in touch with me on in order to ensure you make a well informed decision on when to make that particular transfer, as well as benefiting from highly competitive exchange rates from one of the UK’s leading foreign currency brokerages. Just provide me with a basic outline of your currency requirement and I will be back in touch with you as soon as possible.

If you wish to speak as soon as possible, just provide me with a telephone number which will quicken the process.


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