With sterling vs euro exchange rates fluctuating in the mid teens the triggering of Article 50 this week has the potential to shift exchange rates in my opinion by a couple of percent. Economists are split to whether the triggering of Article 50 provides certainty for the pound and in turn buying euros could become cheaper or on the other hand the 2 year negotiations will begin and an exit will occur which could lead to a sell off of the pound.
Personally I wouldn’t be surprised to see a slight fall, which will make purchasing euros more expensive however good news for anyone selling euros. There after we will be in the run up to the French election and I am convinced this will lead to euro weakness which would improve the purchasing power of the pound against the euro.
Therefore strategy for euro sellers buying pounds, would be trade after Theresa May announces the invoking at some point Wednesday, where as short term euro buyers (next 3 three weeks) should not gamble and take advantage now. Longer term (as long as you are prepared to take the gamble) holding off for the French election could work out well. However just remember the outlook on GBPEUR exchange rates changes weekly therefore being in touch for regular updates should help to time exchange rates and manage your exposure.
The currency company I work for has won numerous awards for exchange rates therefore it enables me to trade GBPEUR / EURGBP at rates better than other brokerages and high street banks. I would recommend emailing me with a brief description of your requirements and your timescales (this is very important, the length of time you have will change your options) and I will email you with a detailed strategy taking into consideration upcoming economic data releases and the process of using our company [email protected]. Alternatively if you would like to discuss your requirements over the phone call 01494-787478 and ask to be put through to Dayle Littlejohn.
** If you are already using a brokerage and would like to know if you are receiving the best rates possible email me with the exact figures and I will reply with our live price. This will take you a few minutes and in the past I have saved clients thousands! **
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