Profile image
By Euro Rate Forecast (Reporter)
Contributor profile | More stories
Story Views

Now:
Last Hour:
Last 24 Hours:
Total:

Pound to Euro exchange rates waiting on baited breath for Lords debate (Joshua Privett)

Thursday, March 2, 2017 2:15
% of readers think this story is Fact. Add your two cents.

(Before It's News)

Everyone in the currency market is suddenly becoming a consummate political theorist, with Pound to Euro exchange rates being heavily manipulated by the unfolding debate in the House of Lords, as well as developments in the Eurozone.

The Lords have shown their muscle early in the string of Amendments proposed, choosing to force the commons to vote on whether European Citizens rights will be guaranteed for the upcoming negotiations.

The Lords think so, and the Government, whilst likely to grant it, wanted to keep this as a negotiating tool in their back pocket. It seems the Pound weakened on the back of the seemingly reduced negotiating power for the UK heading into Brexit talks.

Frankly, investors are also nervous that the Lords have used their political capital in this tit-for-tat with the Commons on something that both sides knew would be effectively a foregone conclusion. What markets really want is a guarantee that Parliament will receive a vote on any eventual deal reached. This would calm investors that something sensible will be brought into Law at the end of the two year time period if they keep to the schedule.

 So now we wait with baited breath for the rest of the negotiations, but it is obvious that risk is currently in place for Euro buyers.

Anyone holding Sterling was also dealt another blow with a moderate candidate in the French election, Fillon, accused of paying his wife hundreds of thousands of Euros of party money, refusing to bow out of the election, allowing opportunity still for greater challenge to the anti-EU far right candidate Marine Le Pen.

The situation can change drastically, as it has done multiple times just in the past two weeks. Just last week we were above 1.18 on the mid-market level. As such it is imperative that is you have an upcoming currency transfer, you establish contact with a proactive broker to keep you informed of developments and movements in your respective currency pairing. Shifts yesterday were happening on an hourly basis, and with news set to come out from Parliament without much warning, this is not something to be left until the end of your working day.

I am in a well-placed position to do just that. 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 [email protected] 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.

You can also call in and ask reception to speak with Joshua on 01494 787 478.



Source: http://www.eurorateforecast.com/2017/03/02/pound-to-euro-exchange-rates-waiting-on-baited-breath-for-lords-debate-joshua-privett/

Report abuse

Comments

Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Top Stories
Recent Stories
 

Featured

 

Top Global

 

Top Alternative

Register

Newsletter

Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.