Could sterling be set for further losses against the euro
The pound to euro rate continues to be largely dictated by Brexit. We recently witnessed GBP/EUR reach as high as the mid 1.17s, only around half a cent away from a two year high. The pound’s gains were based on the fact that Theresa May was trying to put together a deal that would be accepted by the Labour Party. The deal would mean the UK would have access to the customs union until the next general election at which point Labour could campaign to remain in the EU. I was convinced the spike would not continue as I had little faith in the talks prevailing.
Talks have broken down and as a result we have seen sterling on a predominantly negative trend. Economic data releases seem to have lost their usual impact, we recently saw figures released on unemployment which showed some of the best levels in over a decade. Despite this the euro continued to strengthen following news that talks between May and Corbyn had not been going well.
Pound to euro forecast ahead of European elections
With the European elections due tomorrow, we could see further losses for sterling. Farage’s Brexit party are growing in popularity according to polls and should they defeat the Tories and Labour in the election this would result in further political uncertainty and could cause the pound to weaken.
I have little faith May’s deal will go through at the fourth attempt and again you can expect sterling to lose value. If the deal does fail to go through it would also mount pressure on May to step down.
I am of the opinion sterling will remain fragile until we have firm news on Brexit and at present we seem a long way from seeing any significant progress. It is also important to consider that the euro is strengthening against sterling but suffering heavy losses against other major currencies. EUR/USD for example is now close to a two year low.
If you are interested in buying euros or pounds and would like to learn more about these factors and how they can influence your currency transfer, you can contact me directly using the form blow.
The post Could sterling be set for further losses against the euro appeared first on Pound Sterling Forecast.
Source: https://www.poundsterlingforecast.com/2019/05/could-sterling-be-set-for-further-losses-against-euro/
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Please Help Support BeforeitsNews by trying our Natural Health Products below!
Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomic.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomics.com M - F 9am to 5pm EST
Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!
HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation.
Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.
MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser! Cleans out toxic buildup with oxygen!
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover - Reduces Smart Meter radiation by 96%! (See Video).