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Huge week ahead for Pound Euro exchange rates (Tom Holian)
We are now just days from what could be the biggest event of the year for Sterling Euro exchange rates with Prime Minister Theresa May due to trigger Article 50 on Wednesday.
The Pound has remained relatively low against the Euro for a long period of time and some people have suggested that the issue has been priced in.
However, for me I believe that there are further problems to come for the Pound once Article 50 is actually triggered.
Eurozone growth has shown its highest level in over 5 years and with just days before Article 50 take place it appears as though the Eurozone is going from strength to strength and this could see the single currency strengthen further against the Pound.
It highlights the fact that the UK is going it alone and this in my opinion could cause problems for Sterling exchange rates by the middle of the week.
Clearly, Prime Minister Theresa May will try and provide us with some positive rhetoric but personally I think the markets will react unfavourably and we’ll see problems for the Pound coming by the middle of the week.
With 2 years of talks ahead with 27 member states who do not want to see the European Union break up then I think Wednesday is like the UK opening pandora’s box and we will be in for a huge amount of uncertainty ahead.
If you have a currency transfer to make and want to save money when buying currency compared to using your bank then contact me directly.
Working for one of the UK’s leading currency brokers since 2003 I am able to offer you bank betaing exchange rates as week as helping you with the timing of your transfer.
If you would like a free quote when buying or selling Euros then contact me directly and I look forward to hearing from you.
Tom Holian [email protected]
Source: http://www.eurorateforecast.com/2017/03/25/huge-week-ahead-for-pound-euro-exchange-rates-tom-holian/
