Pound Euro rate at lowest point in weeks (Tom Holian)

Sterling Euro exchange rates fell heavily on Friday to their lowest point in weeks after the latest opinion poll showed that the vote between the Tories and the Labour party is getting much closer to as little as 5%.

Immediately after Easter when Theresa May initially called for the snap general election the Pound hit its highest level against the single currency since late last year as the market believed that a Tory win would be unchallenged and this would provide the UK with political certainty after a problematic period caused by the Article 50 issue.

However, if the vote is close it highlights that the UK may not be in as strong a position politically and this is part of the reason for the Pound’s recent falls.

In my mind I still think the Tories will win convincingly on June 8th but the recent polls suggesting the vote could be much closer has caused a loss of confidence in the Pound.

Opinion polls can be wrong as demonstrated during 2016 with the Brexit vote as well as the Trump victory and what is does highlight is the importance of making sure that people vote.

Therefore, if one party has a clear lead it can often lead to apathy where voters don’t end up turning up to vote for their party as they think they’ll win regardless.

If the Tories win in the next fortnight this is likely to lead to Sterling strength and the recent wobbles for Sterling could be opportunities to sell Euros to buy Pounds.

Therefore, if you need to make a transfer to buy Pounds the next two weeks could be the opportunity you’ve been waiting for.

The reason why I believe this to be the case is because when an existing government maintains the status quo this allows businesses to carry on and provides then with financial stability.

With less than two weeks to go if you would like to make a currency transfer and save money compared to using your own bank then why not contact me for a free quote. I work for one of the UK’s leading currency brokers and have done since 2003 so I’m confident that a quick email could save you a lot of money.

I look forward to hearing from you.

Tom Holian [email protected]