GBP/EUR rates may now have cautious beginning to the week (Joshua Privett)
Initially there was hefty optimism heading into next week for buying Euro exchange rates, but today we have been given a very prominant reminder that the landscape and dominant narrative informing exchange rates can change very quickly.
Theresa May was interviewed today on Sky News about what features the UK would ‘prioritise’ in their negotiations with the EU. Her response of the UK not being able to hold onto ‘bits’ of its EU membership once they Leave.
Whilst this is still fairly vague, this currently hypersensitive market could believe that this points to a hard exit from the European Union, and, come Monday’s market opening, could lead to a sudden rally against the Pound if any sudden flash sells materialise.
It was comments on a hard brexit from German and French leaders which caused the flash-crash on the Pound in October, so Euro buyers would be wise to be on their toes as soon as markets open tomorrow morning. You may find yourself having to buy your currency fairly quickly. Should this occur, you can contact me directly by calling 01494 787 478 and asking the reception team for Joshua.
Should we manage to avoid any hysteria in the marketplace, then we can approach the rest of the week with some degree of normalcy.
On Wednesday we will see the release of manufacturing and growth data for the UK economy. If it continues from previous trend this should be a positive time for the UK and therefore the Pound.
Given that the strategy for Euro buyers is now based around being in a position to move quickly, and then from there look forward to positive news releases later in the week, I strongly recommend that anyone with a buying Euro requirement should contact me on email@example.com.
I will be at the forefront of the news in an evolving situation and am able to contact my customers immediately in the event of any news which could benefit or adversely affect them.
I have never had an issue beating the rates of exchange on offer elsewhere, so a brief conversation could save you thousands on an upcoming transfer.