Pound to Euro rates soften slightly after Monday recovery (Joshua Privett)

Pound to Euro rates of exchange have seen a marginal correction after the recovery recorded during the Bank Holiday period yesterday.

The heaviest falls to Sterling’s value came last week when it emerged that the election was much closer than first thought, and currency markets began scrambling over themselves to seek protection from what could end up being a very uncertain election period.

The margin for error is now very close. The expectation of a Conservative majority based on polling is similar to what the Remain camp were forecasted to win by in the Referendum last June. As such the confidence necessary to keep demand for Sterling high and therefore trading well against other currencies has been hindered somewhat.

We saw a recovery yesterday which is fairly common following large currency exchange movements, as markets re-balance waiting for more news about the upcoming election.

Without demand for Sterling its value would career downwards, making the Euro a more expensive prospect for anyone with an upcoming requirement.

Anyone with a Euro requirement in the immediate term may be wise to contact me to discuss a strategy on how to approach the vote to secure any targetted peaks and ensure you are better protected from any downside risk.

It could even be that the slight resurgence on exchange rates recorded today will be the best buying levels available before the election itself.

I have never had an issue securing more commercial exchange rates than what is on offer elsewhere. Contact me over the bank holiday weekend on jjp@currencies.co.uk while markets are closed for a short discussion concerning your personal situation.

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