Sterling Euro exchange rates drop in morning trading – Where may GBP/EUR head next? (Ben Fletcher)

With a strong drop in the GBP/EUR price this morning in 1.28 we have seen a small but potentially short lived revival this afternoon steadying at just less than 1.30. There is a very good chance that this is only the calm before the storm as we could see a fall into the mid 1.20’s over the next few days.

Oil prices are on the way down and the stock market is responding to this with heavy losses, the pound is in a vulnerable position currently. If you need to change Pounds to Euros in the short term completing this sooner rather than later would be sensible.  On the flip side of this EUR/GBP is at a yearlong high and anyone looking to change Euros to Pounds has the perfect window of opportunity to do so.

Please contact me if you would like to find out any further information regarding Pounds and Euros. I am happy to provide you with information that will allow you to make the most informed decision when changing currencies. No matter how small the transaction there is always money to be saved by making a well-timed and educated decision. If you would like to get in touch please contact me at brf@currencies.co.uk and hopefully I can be of assistance to you.

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