Buying Euro rates see first signs of life since election result (Joshua Privett)

GBP/EUR has risen half a cent at the time of writing this article due to some very positive economic data in the UK cutting through some of the election noise.

Euro buyers seem to have found some support now that Theresa May has had positive meetings yesterday with her own conservative party, quelling rumours of a potential leadership challenge and painting the picture of a Government on the mend.

This was compounded today with positive murmurings coming from talks between Theresa May and the DUP in the first official steps to forming their informal partnership whilst the next government sits to perform its duties.

The manifesto will still need to be debated in Parliament, and, as such, is not out of the woods yet, and May needs to get a consensus on which features of the manifesto should be revised to meet the surge for opposition support.

For now however, the Pound seems set for improvements. Even the economic sphere is giving Sterling a helping hand.

Today inflation data for the UK economy showed thriving spending activity, pushing price rise rates up close to 3% for the year at 2.9%. Given that 60% of the UK economy is made up from domestic consumerism this is important, but there are also indirect benefits.

On Thursday the UK has its next interest rate decision and monetary policy statement. Given that a high interest rate (and this is high, the Bank of England tends to have a target rate of just 2%) is normally a prompt to raise rates and control spending activity, the UK may see policy lean more towards raising rates in the near term.

Such a move will certainly benefit the Pound’s value.

I am well positioned to assist anyone with a buying or selling Euro currency requirement to time their transfer and stay informed in this fluid marketplace. You can contact me directly on jjp@currencies.co.uk to discuss a strategy for your transfer and your options.

One final point is that I have never had an issue beating the rates of exchange on offer elsewhere, and these current buying levels can be fixed in place for a future requirement you have planned using only a small deposit, eliminating any risk from further currency exchange movements.

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