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What will happens to GBPEUR rates over the next few weeks?

Saturday, February 25, 2017 4:16
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When buying Euros with Pounds or searching for the best exchange rates it is important that you use a specialist currency broker to help with your currency purchase especially at the moment as in my opinion we are in for one of the most volatile periods in GBPEUR history.

When the Brexit vote came out last year we saw losses of over 10 cents for the Pound vs the Euro and next month we are due to see the negotiations begin to leave the European Union when Article 50 is due to be triggered.

Politics and economics are the two main drivers of exchange rates and at the moment it is very uncertain as to what will happen next.

The Pound has struggled to make any significant gains against the single currency recently even though UK economic data has remained relatively strong recently.

Longer term once the Dutch and especially the French elections begin I think we could see the Pound make gains as there appears to be a real appetite for change on the continent.

With Brexit and Trump during 2016 could we see further changes this year that will cause big swings of the currency markets?

In the short term I think the Pound will struggle against the Euro as politically the UK is in a state of limbo and clearly the Europeans will make it difficult for us once the negotiations begin.

Working for one of the UK’s leading independent currency brokers the company I work for is able to offer you better rates of exchange when buying or selling Euros compared to using your own bank so if you’d like to find out more information or for a free quote then contact me directly and I look forward to hearing from you.

Tom Holian


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