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Backlash from yesterday’s Terror attacks on Pound Euro rates appears to be over (Joshua Privett)

Thursday, March 23, 2017 2:41
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(Before It's News)

Unfortunately I have had to write many articles surrounding tragedies like yesterday, but terrorism has had a fundamental impact on exchange rates over the last few years, attacks in Brussels, Berlin and Paris to name but a few.

There was a knee jerk reaction yesterday when initial reports of the attacks saw the Pound weaken, with market spectators worried of an ongoing attack. However, when the situation appeared to be contained rates began to balance out once more.

The attacks have also altered expected events to impact Pound to Euro rates. Yesterday afternoon was meant to be the vote at Holyrood, the Scottish Parliament, to begin the process leading to a second Scottish Referendum, by getting consent from the majority of MPs. Out of deference to yesterday’s events this has since been delayed.

Now that this result will not be hovering over the triggering of Article 50 next week, the less contentious setting will likely limit the exposure Sterling may feel to the event itself. We are already seeing buying Euro rates break through the highs recorded yesterday before the attack took place.

Frankly, you could have even expected larger improvements if it not for Marine Le Pen, the anti-EU candidate in the French election, losing ground in some key polls.

Pound to Euro rates as a result seem to be looking forward with tunnel vision to Wednesday, and any changes to the Scottish vote, whether it be early next week or later, should be the governing factor on exchange rates.

Though retail sales figures this morning may be enough to bump the Pound higher still.

If you are planning to make a currency exchange involving the Pound and the Euro it’s well worth your time getting in contact with me on  [email protected]  in order to ensure you make a well informed decision on when to make that particular transfer, as well as benefiting from highly competitive exchange rates from one of the UK’s leading foreign currency brokerages. Just provide me with a basic outline of your currency requirement and I will be back in touch with you as soon as possible.

I have never had an issue beating the rates of exchange on offer elsewhere, so a brief conversation could save you thousands on a prospective transfer.


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