Brexit talks continue to harm the pound

Since the UK public decided to vote out of the EU, GBPEUR exchange rates have dropped 18%. To put this into monetary value a €200,000 purchase is now £33,000 More expensive. Many of my clients that are purchasing euros are asking if rates will continue to get worse or recover towards the end of the year.

Brexit negotiations are one of the reasons that GBPEUR exchange rate now sit at an 8 year low. The third round of negotiations took place earlier in the week and by accounts did not go particularly well. EU officials have made it clear that the divorce settlement and EU citizens’ rights need to be sorted before any trade negotiations will begin. However UK official’s believe the numbers do not add up and therefore they want to discuss a trade deal alongside the divorce settlement.

With months ticking on by, and the UK and EU no closer to agreeing a new trade deal that will benefit both parties, it looks like further falls will occur in the upcoming months. Media stations have been reporting investment giants, JP Morgan and CITI Bank believe exchange rates will reach parity throughout 2018 and if negotiations continue to follow the same path I believe this could occur.

For further information in regards to GBPEUR exchange rates feel free to email me with the reason for the transfer (company goods, property purchase) and timescales you are working to and I will respond with the options available to you and the process of using the company I work for drl@currencies.co.uk. 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! **

For more news on foreign exchange rates and to request a free no-obligation quote visit www.currencies.co.uk