Less than one week to go before the UK general election – What could happen to Pound Euro rates? (Tom Holian)
Pound Euro exchange rates have been struggling for the last 3 weeks now with the uncertainty as to what may happen when the polling begins next week. Indeed, we may even know this time next week who will be leading the country.
When Theresa May initially called for a snap general election after Easter the Pound rallied against all major currencies including against the Euro as at the time it looked as though the Tories would win with a clear majority.
However, we have seen a number of opinion polls show that the voting next week could be much closer than expected which has led to all the uncertainty for GBPEUR exchange rates.
Indeed, we are now at the lowest level to buy Euros since early March providing an excellent opportunity for anyone looking to sell Euros to buy Pounds.
My opinion is that we’ll see the Tories win and if this happens I expect the Pound to make some quick gains against the Euro as it means another term of the same government which typically boosts the value of Sterling as business confidence returns to the market.
There is a small risk that if the Tories do not win with a majority then this could lead to a hung parliament and this could be problematic for the Pound and when we saw a hung parliament a few years ago the Pound suffered against the Euro.
If you would like further information about how we can save you money when buying or selling Euros compared to using your own bank then contact me directly for a free quote and I look forward to hearing from you.
Working for one of the UK’s leading currency brokers for almost 15 years I’m confident that I can make the process simple and cost effective for you.
Email me Tom Holian [email protected]
Source: http://www.eurorateforecast.com/2017/06/02/less-than-one-week-to-go-before-the-uk-general-election-what-could-happen-to-pound-euro-rates-tom-holian/
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