Could GBPEUR rates rise back to 1.20 this year?

The market is continuing to look like it will favour the Euro in the coming weeks, we urgently need some clarification over just what Brexit means to help the pound. Perhaps once the UK government get its act together the pound will rise but for now it is struggling! To push GBPEUR rates back to 1.15 or 1.16 is possible but I would not expect this to hit 1.20 quite yet. To see such a movement we will need to see a big shift in the sentiment relating to the Brexit, as for now I cannot see this happening anytime soon! If you need to buy Euros then we could start to see some improvements in the market, if you would like some assistance with tracking and planning around such movements please do let me know.

The pound will of course find it a struggle to on its own to be boosted against the Euro, therefore the sentiment on the Euro which has been very positive lately, will need to take a turn for the worse. If you are buying Euros with pounds it is very important to beware of the potential volatility ahead and not put too much hope in rates just rising dramatically.

The lack of political and economic uncertainty in the Eurozone is a key factor in the continuing strength of the single currency, compared to the pound and US dollar, the Eurozone with strong government and strong economic data is being boosted by investors eager to buy the Euro at what relatively seems like a good price compared to where it could go in the future.

If you need to buy or sell pounds for Euros understanding the current trends is crucial to getting the best deals. We operate to offer a proactive service monitoring exchange rates to help you trade at preferential rates. By understanding your situation and closely tracking market trends we can help ensure that overseas property purchase or sale goes through very smoothly with the minimum fuss.

For more information at no cost or obligation please speak to me Jonathan Watson by emailing [email protected]. Thank you for reading and I look forward to hearing from you to discuss further.