How will the election impact the Pound vs the Euro? (Tom Holian)

The Pound has recovered against the Euro this afternoon after some much better than expected data which was published in the US this afternoon.

There was a huge amount of difference in the US employment figures for the month of May and this generated Dollar strength against all major currencies including the Euro which has led to GBPEUR exchange rates going in an upwards direction.

Clearly there is a lot of uncertainty in the foreign exchange market at the moment and with just one week to go before the UK goes to the polls we could be in for some very big moves over the next few days.

The opinion polls have been rather mixed recently and this is also having a big impact on GBPEUR exchange rates.

Many of my clients have been utilising Limit Orders which means you can set an exchange rate that is not currently available and the benefit of doing this means you can take advantage of the rates even outside of the usual working hours.

We end the week with tomorrow afternoon’s US Non Farm Payroll data for May as well as Average Earnings and as we have seen such a big movement with this afternoon’s rates I think this could also have a big impact on Euro exchange rates as we end the week.

If you have a currency transfer to make and would like to save money on exchange rates compared to using your own bank then contact me directly for a free quote and I look forward to hearing from you.

Having worked in the foreign exchange industry since 2003 for one of the UK’s leading currency brokers I am confident of being able to offer you both better rates than using your bank and also help you with the timing.

Tom Holian [email protected]