GBPEUR hits fresh highs!

The pound to Euro rate has risen to some of the highest levels since the May 2017 General Election. This was the last time GBPEUR was trading at the highs we witnessed today, if you have a transfer buying Euros with pounds then making plans around the current market sentiment is a wise move as the enthusiasm over sterling will probably subside quickly.

The pound is doing better against the Euro already on the positive expectations which have been in place for the last few weeks with the best levels now being realised. With the market looking very strong for the pound the prospect for the rate to keep rising higher is probably limited now.

If you have a transfer buying Euros with pounds it is now worth remembering just how fragile positive news can be on the currency markets and how strong the Euro has been in recent weeks. General impressions for the pound against the Euro are also linked to what is happening on the US dollar. The market has been happy to buy up the pounds this week but those sentiments can quickly change next week with more data due.

If you need to buy the Euro with the pound I would consider making plans around the latest news today and considering what your target is. Tomorrow sees the latest UK GDP (Gross Domestic Product) news from the UK, much of the important news has already been released today and this week which might mean a less volatile week.

Nevertheless, it is well worth getting any plans to buy Euros well in place in advance to make sure you don’t miss out on the spikes. For more information at no cost or obligation please speak to me Jonathan Watson by emailing jmw@currencies.co.uk.

Thank you for reading and I look forward to hearing from you.

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