GBP EUR Rates before Theresa May Speech (James Lovick)

The pound continues to see a volatile period this week ahead of a key speech from UK Prime Minister Theresa May this Friday. GBP EUR is currently sitting just below the 1.14 level and not far off that recent 9 month high seen for the pair presenting some of the best levels seen for buying Euros. Politics in the UK will have a huge bearing on the direction of the pound from here on and Theresa May’s speech is likely to be the trigger for this. After the cabinet meeting at Chequers last week it has been reported that there is some unity between members and may help pave the way forward with Brexit.

Clients looking to buy or sell Euros should keep a close eye on the speech as there is likely to be high volatility on the back of it. If more details emerge as to the future path of Brexit and the approach is viable from all sides then the pound could see a sizeable jump higher. Much will of course depend on how well the EU side in this negotiation receive the speech and if it is immediately discredited then the pound could fall in this scenario. There could be an excellent opportunity to secure funds after the speech so do get in touch to position yourself ready.

European Central Bank President Mario Draghi has been speaking this week and remains of the view that the outlook for the EU is positive. However on the political front there is likely to be a volatile weekend ahead. The Italian election taking place on Sunday is potentially going to see a rise of more right wing parties including the 5-Star Movement. The anti-establishment party is leading in the polls and could create some issues for the European Union. More details about the proposed grand coalition in Germany are also expected to be announced on Sunday.

To discuss the pound and the Euro and how to achieve the most of market movements then please get in touch with me James at

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