Pound close to best rate to buy Euros since May 2017 (Tom Holian)

The latest round of the Brexit talks continued focusing on the Irish border issue which remains uncertain. The transitional deal was agreed last week but the Irish border will be a key topic that is likely to remain ongoing.

With trade talks due later this year many are hoping that the Brexit terms and conditions may be agreed by October but at the moment, in my opinion, that appears very unlikely.

Brexit Secretary David Davis has been rather positive in recent times suggesting that things are looking much better between the UK and the European Union.

The Pound has recently hit 1.15 against the Euro after the Bank of England announced a split of 7-2 in favour of keeping interest rates on hold which shows that there is a growing appetite for a UK interest rate hike coming in the near future.

At the moment there is roughly a 75% chance of an interest rate hike coming in May and this is what caused the Pound to rise to the best rate to buy Euros since May 2017 creating some excellent opportunities to send money to Europe to pay for a foreign property.

However, all is not rosy when we look at the high street in the UK.

Although Retail Sales have been going very well recently the issue appears to be that consumers are buying online rather than purchasing goods in store and this has been reflected in the demise of New Look, Toys R Us and Select.

I think we may see a small rally for GBPEUR rates towards the end of this week which are known as month end flows so it may be worth looking to buying Euros prior to the Easter break.

If you would like a free quote when buying or selling Euros then contact me directly. I work for one of the UK’s leading currency brokers so a quick email could save you a lot of money on the difference when making a currency purchase.

Email me and I look forward to hearing from you.

Tom Holian teh@currencies.co.uk

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