When will the European Central Bank taper their QE Programme? (Tom Holian)

The Pound has seen some small gains during this week but I fully expect GBPEUR exchange rates to experience a huge amount of volatility later on today.

The European Central Bank are due to meet at 1245pm today and ECB president Mario Draghi is due to address the markets later this afternoon.

There has been much talk of the current QE programme and when the ECB may start to taper the programme.

The likelihood is that the tapering will commence later in the year in perhaps December so any absence of when this may take place could see the Pound make gains.

However, if Draghi does look to announce or at least suggest when QE may start this could cause the single currency to dramatically strengthen against the Pound.

Overall the market for GBPEUR exchange rates is likely to continue to be dominated by the Brexit talks and today’s ‘Great Repeal Bill’ will be hotly debated in the House of Commons later today.

The uncertainty and the ambiguity over the costs of Brexit and what Brexit actually means has caused Sterling to experience real problems lately and in the short to medium term I cannot see the Pound making any real gains vs the Euro.

If you have a currency exchange to carry out in the coming days, weeks or months then you are more than welcome to speak with me directly as I will be more than happy to help you both with trying to time a transaction and getting you the top market rate when you do come to buy your currency.

A small improvement in a rate of exchange can make a huge difference so for the sake of taking two minutes to email me you may find you save yourself hundreds if not thousands of Pounds. You can email me (Tom Holian) on teh@currencies.co.uk and I will endeavour to get back to you as soon as I can.

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