Sterling Euro exchange rates have hit their best level to buy Euros during 2017 as we appear to be getting closer to triggering Article 50. Although UK economic data has been mixed of late the trend for the Pound towards the end of this week has been rather positive.
With the House of Lords not blocking the Brexit bill this has given more control of the situation back to Theresa May and it is almost certain that Article 50 will be triggered before the end of March.
Against the Euro on a transfer of £100,000 a well timed trade would have been the difference of over €6,000 since the turn of the year and over €8,500 since the lows back in October.
In the short term I think we could see further falls for the Pound during next month as the uncertainty of how Article 50 will affect the markets will cause a loss of confidence for Sterling.
However, in the next couple of months both the Netherlands and France go to the polls to vote for a new leader.
The Dutch elections are due on 15th March and the French elections begin on 23rd April and the expectation is for Marine Le Pen to do well. As such a controversial character who is looking for change in France if she gains more momentum this could cause the Euro to weaken against the Pound.
On Tuesday Eurozone inflation is due to be published and if it beats expectations I think we could see the Pound fall agains the single currency.
I have personally worked for one of the UK’s leading currency brokers since 2003 and am confident not only of offering you bank beating exchange rates but also with my experience help you with the timing of your transfer.
For further information about the process or for a free quote then contact me directly and I look forward to hearing from you.
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