Euro makes huge gains against Sterling as Brexit woes continue for Theresa May

Euro exchange rates have made great gains against the Pound over the last 24 hours as U.K Brexit issues continue to mount pressure on Prime Minister Theresa May.

Prime Minister May has had an extremely tough 24 hours since she released news yesterday that the cabinet had agreed her Brexit deal and this had initially given Sterling a slight boost. Since then, a number of resignations including chief Brexit negotiator Dominic Raab (who incidentally is now bookies favourite to become the next PM) and news that a number of Conservative members are ganging together to pursue a vote of no confidence. This would mount severe pressure onto the Prime Minister, lead to a great deal of political uncertainty and most likely lead to further Sterling weakness.

Theresa May is due to make another statement shortly and all eyes will be watching her to see what her next move could be.

She may confirm she will continue to fight on, she may just reiterate that Parliament will need to decide what happens next, she could announce that they will try to renegotiate the deal or there is still the potential she might step down completely.

All in all, even if you are sick of hearing about Brexit it is the main talking point for anyone looking to move money internationally involving the Euro or the Pound so you do need to keep on your toes with the very latest developments.

We always aim to keep our readers up to speed with non-biased opinions and up to date market information, but if you want to know exactly what is going on then you are more than welcome to contact me (Daniel Wright) directly. You can email me on [email protected] or contact our trading floor on 01494 725353 and ask to speak with Daniel Wright.

Tomorrow could bring absolutely anything for Sterling Euro exchange rates, one thing is for sure is that there will be market volatility so if you have a currency exchange to carry out, yet you do not have the time to watch the market all day every day then it is imperative that you have a proactive and efficient currency broker on you side. if your current broker does not keep you up to speed with the latest developments, or if you are not happy with the rates of exchange you are receiving from them then you are more than welcome to contact me for a no obligation discussion and rate comparison. Once again, an email to [email protected] and i will be happy to get in touch with you personally.