Election result priced in, Pound to Euro exchange rates begin the rates positively (Joshua Privett)

It has been confirmed that Emmanuel Macron will now be the new French President to be inaugurated this coming Sunday, yet the Pound still recovered against the Euro to begin the week.

In the run up to the election itself, and really after the first round, we were seeing Pound to Euro exchange rates fall when it seemed a foregone conclusion that the election would be handed to Macron, and the anti-EU Le Pen would not be getting a foothold as President of France.

His overwhelming victory against Le Pen was so expected that, in the end, the confirmation did little to boost the Euro further against its currency counterparts. In fact fresh polling data in the UK was the real market driver top begin the week, with the Conservative lead remaining strong a month away from polling day lending strength to the Pound’s position, pushing the central levels on GBP/EUR back comfortably above 1.18.

Moving forward, rates of exchange will likely be governed by economic data released this week, with important interest rate decisions in the UK on Thursday, and German growth data on Friday. Projected results suggest little support for a rate hike in the UK on Thursday, whilst German growth for Quarter one is expected to almost double compared to previous measurements.

Added strength for the Euro will make the currency more expensive, but with the current narrative focussed on the UK election at least until Wednesday, tempting buying opportunities may continue to emerge.

If you have a large currency exchange to carry out in the coming days, weeks or months then you are more than welcome to speak with me directly as I will be more than happy to help you both with trying to time a transaction and getting you the top market rate when you do come to buy your currency. You can email me (Joshua Privett) on [email protected] and I will endeavour to get back to you as soon as I can.