Whilst Donald Trump has made events in British politics seem fairly calm and even dull in some instances, the last three days have seen currency markets fixated on the debate in Parliament, with Pound to Euro exchange rates enjoying a boost as a result.
The central feature of the debate was how much power the Government had to act on its own.
To refresh the memories of Euro buyers, last October, Pound to Euro exchange rates fell to 1.07 territory when Theresa May was revealing almost no details about the upcoming Brexit negotiations, and was given no real timeframes on how they would be operating.
Since this date, the steps taken to change this have been received very well by financial markets. GBP/EUR moved up to some of the highest levels since the Referendum vote, and are currently holding 10 cents higher than just three months ago.
The Supreme Court rules that the Government would need the permission of Parliament to trigger Article 50. Theresa May outlined a timeframe for negotiations but admitted that getting a ‘full deal’ within that two year period seemed unrealistic and pointed to a temporary deal to manage things for the interim period.
This week this culminated in the promise by government that any deal with the EU would have to be agreed in Parliament, again given greater confidence to financial markets of oversight in the process.
I am well positioned to inform anyone with a Pound to Euro requirement of any tempting improvements which emerge, and you can also secure exchange rates at that time for a future payment you are planning. This is understandably a popular option with Article 50’s enactment in March being just around the corner.
Conversely, anyone with an Euro to Sterling interest is in less of a rush from my perspective.
If you are planning to make a currency exchange involving the Pound and the Euro, it’s well worth your time getting in contact with me on firstname.lastname@example.org 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.
I have never had an issue beating the rates of exchange on offer elsewhere, therefore a short conversation could save you a significant sum on an upcoming transfer.