The Pound had a fairly eventful end to the week on Friday, following on from what had been a roller-coaster of a Tuesday to begin the week, with Pound to Euro exchange rates largely holding their own close to 1.17 after heavy market movevments throught the day.
On the Tuesday the Pound dropped back into the 1.16’s from 1.18 before returning to the 1.17 levels as the day wore on, and similarly on Friday rates were knocking on the door of 1.15 before recovering closer to 1.17.
I think the lesson from these two eventful days this week is that there is still a strong atmosphere of hypersensitivity surrounding the Pound, with any controversial news seeing trigger happy traders selling off the Pound immediately to protect themselves. Whilst sanity returns to the markets later, this does point to greater risk for Euro buyers the closer we get to Article 50 being enacted.
Yet, March will still have the ability to surprise, with a controversial Dutch election, further developments in the Greek debt crisis, and the build up to the French elections in April set to keep Euro buyers and sellers alike on their toes.
As such a premium over the next 6 weeks where Article 50 can be enacted at any point in March is to remain an informed purchaser, but also to approach the markets safely. There are ways to protext your capital from adverse currency movements, and to seize what are often short-lived spikes to ensure opportunities are not missed.
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.