Pound to Euro exchange rates are due for a very unsettled period ahead this month with politics due to be the key influence.
In just 2 weeks time the the Dutch are due to hold their elections and it is likely that Geert Wilders who is the far-Right man in charge of the Party for Freedom will win as he is the current front runner. However, the problem is that he may not be able to form a full majority and therefore we could see problems ahead for the Netherlands.
Over in France Francois Fillon is also under a lot of pressure over allegations of a large payment made to his wife for jobs that allegedly didn’t exist.
According to recent opinion polls this has given more of the vote to Marine Le Pen who is from the National Front party and with last year’s Brexit vote and Trump coming to power there appears to be a global appetite for political and social change.
There is also a little more Euroscepticism across the continent with Wilders calling for a referendum on the European Union if he wins and Le Pen claiming that she will look at bringing back the French Franc.
The first round of the French elections are due to take place on 23rd April with the next round in early May so in the next couple of months we could see a very different political landscape for Europe in this time.
Turning the focus back to the UK Article 50 is due to be triggered by the end of this month and owing to what happened with the Brexit vote we could see large movements for the Pound against the Euro.
There are mixed opinions as to what may happen but as we’ve seen with Brexit the Pound plummeted vs the Euro but this time around it could be argued that as we know Article 50 will be triggered this has already been priced in to the foreign exchange market and we could even see some small gains for the Pound.
Whatever happens to exchange rates over the next month it is sure to be a very volatile period up ahead so in order to avoid the risk of where GBPEUR rates may go during this time if you have a currency transfer to make over the next couple of months it may be worth looking at buying a forward contract which allows you to fix an exchange rate for a future date.
Having worked in the foreign exchange industry since 2003 I am confident that not only can I save you money when buying or selling Euros compared to using your own bank but also help you with the timing of your transfer of funds.
If you would like further information about the process and contract types on offer or simply would like a free quote then contact me directly and I look forward to hearing from you.
Tom Holian firstname.lastname@example.org