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Uncertain month ahead for GBPEUR exchange rates (Tom Holian)

Saturday, March 4, 2017 3:18
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Sterling Euro exchange rates have dropped to their lowest level this week at the end of Friday after the House of Lords challenged the current Brexit bill.

Essentially the Lords want to protect the rights of Europeans living in the UK which according to reports there are over 3 million.

They also want to try and guarantee rights for Britons living on the continent. This is the latest set back for the government who are gearing up to trigger Article 50 this month and the challenge by the House of Lords has caused a loss of confidence in Sterling for the time being sending GBPEUR exchange rates in a negative direction.

The triggering of Article 50 and the negotiations to leave the European Union are causing problems for the Pound at the moment and I think once the discussions start we could see further swings for Sterling against the Euro.

However, it may not be all bad news for Sterling as this month we also have the Dutch elections taking place with the front runner Geert Wilders of the far-Right party. He has spoken of having their own referendum if he wins and this could cause problems for the single currency in the next fortnight if he becomes the next leader of the Netherlands.

In order to avoid the risks of what may happen to GBPEUR rates during this time it may be worth considering buying a forward contract which means you can guarantee an exchange rate for a future date for a small deposit.

Having worked in the foreign exchange industry for 14 years for one of the UK’s leading currency brokers I am confident that not only can I offer you bank beating exchange rates when buying or selling Euros but also help you with the timing of your transfer.

If you would like further information about the process or a free quote then feel free to contact me directly for a free quote.

Tom Holian


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