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A busy week for pound vs euro exchange rates (Dayle Littlejonh)
It has been an action packed 48 hours for GBPEUR exchange rates with Central levels of exchange fluctuating two cents. The rise in exchange rates came from Sir Ivan Rogers comments that Senior EU leaders believe Theresa May is bluffing and will eventually back track to stay part of the single market. This boosted investor confidence and the pound rose in value.
Wednesday evening, MPs within the house of commons voted that Theresa May could start Brexit negotiations within Parliament. This means in the upcoming weeks MPs will debate the publication that Theresa May released yesterday. To make it clear this does not mean Theresa May has the approval to invoke Article50 in March.
Yesterday was Super Thursday for the UK and this is when the Bank of England release their latest interest rate decision, minutes from the latest interest rate decision, quarterly inflation report, , update to the asset purchase program and this is followed up by a speech from Governor of the Bank of England Mark Carney.
It was widely anticipated that Mark Carney when he delivered his speech just after midday, would hint towards an interest rate hike if inflation continued to rise however this never materialised. Off the bank of the interest rate decision the pound dropped like a stone.
An hour or so later Theresa May published her white paper and most of the information we already knew. However Theresa May did state that she wants the UK to cooperate on regulation of financial services and elements of single market membership are still on the table. Leaders within the European Union have made it clear that Theresa May cannot pick and choose therefore the bill did not help the pound recover against the euro.
For further information in regards to GBPEUR exchange rates feel free to email me with the reason for the transfer (company goods, property purchase) and timescales you are working to and I will respond with the options available to you and the process of using the company I work for [email protected]. Alternatively if you would like to discuss your requirements over the phone call 01494-787478 and ask to be put through to Dayle Littlejohn.
** If you are already using a brokerage and would like to know if you are receiving the best rates possible email me with the exact figures and I will reply with our live price. This will take you a few minutes and in the past I have saved clients thousands! **
Source: http://www.eurorateforecast.com/2017/02/03/a-busy-week-for-pound-vs-euro-exchange-rates-dayle-littlejonh/
