Where next for GBPEUR exchange rates?

The pound has risen against the Euro presenting some excellent fresh opportunities to buy Euros with pounds. We are not quite at the top of the market but are only a couple of cents from the highs of 1.15 seen earlier this month. This is the best level we have had since May 2017 during the UK election. The overall position for Euro buyers might improve further but these levels should not be taken too much for granted at this time in my opinion.

Friday is Theresa May’s speech on Brexit and this could be a big mover for the pound against the Euro, clients looking to buy and sell Euros will of course be aware of the importance of the Brexit which is driving sterling exchange rates. The next big news will be the Italian election on Sunday which could see the Euro weaker, there are lots of worrying scenarios we can paint from the Italian election on Sunday but ultimately I don’t think the Euro will find itself in too much trouble.

With so many different parties the likelihood is a coalition government which struggles to make any real policies stick and ensures that Italian politics stays loosely in its current framework, the chance of it going down a more populist and right-wing route is a possibility but I feel ultimately, unlikely.

If you need a transfer buying or selling the pound against the Euro then making some plans around these key events is vital to maximising any deal and exchange rate you receive. For more information at no cost or obligation then please feel free to contact myself Jonathan Watson by emailing jmw@currencies.co.uk.

Thank you for reading and I look forward to hearing from you.

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