Some form of hope for Sterling

We have seen a small rally for Sterling against the Euro, however I think this is more due to Euro weakness then any Sterling strength. The fear that the Turkey situation will escalate is hitting the Euro as the IMF may be called upon if the situation deteriorates.

The tariffs placed on Steel by the US is hurting the Turkish economy and is having a knock on effect for the Euro. I think if the situation on Brexit were not so unclear we would have seen the Pound strengthen significantly.

The lack of clarity surrounding Brexit is weighing down the Pound, and to see substantial movement we would need to have some form of confirmed progress surrounding Brexit.

There are rumours circulating that Brussels have backed down slightly and are considering giving the UK access to the customs union for goods and services and also allow the UK to control immigration. If this does come through as firm news I would expect Sterling strength.

If you have a currency requirement buying Euros short term it would be wise to be in touch with an experienced broker. The window of opportunity is often slim in current market conditions.

A limit order combined with a stop/loss could be the order of the day in an attempt to try and maximise your return while also having a form of protection should a “no deal” scenario rear it’s head. Feel free to get in touch to find out more about timing your transfer to maximise on your return, you can email me using [email protected].

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