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The Pound to Euro exchange rate has now hit its best level to buy Euros in a month following yesterday’s confirmation of Article 50. Prime Minister Theresa May has formally announced that the UK will be leaving the European Union which means that negotiations are finally able to begin.
The negotiations clearly will take quite some time and the timescale to reach a deal is 2 years which personally I think is difficult to manage.
However, in the short term the Pound has been given a boost vs the Euro after the tone of the letter was quite positive for the UK in which Theresa May has set out a clear direction that she wants the UK to take.
After much concern in the build up to Article 50 the Pound has rallied against the Euro and we could see further gains to come tomorrow morning when the UK releases fourth quarter GDP figures. The data is the final revision and with the expectation set for growth of 2% any revision in an upwards direction could see Pound Euro rates end the week on a high.
Closely followed will be Eurozone inflation figures which are a key concern for the European Central Bank and in my opinion if they are not quite in line I think we’ll see Euro weakness and a strong session tomorrow for Sterling. Therefore, if you’ve been waiting to buy Euros it may be worth taking advantage of this recent spike.
Working for one of the UK’s leading currency brokers I am confident of being able to offer you better rates when buying or selling Euros compared to using your own bank as well as helping you make the process very simple.
For further information or a free quote then contact me directly via email with a brief outline of what you need to do and I look forward to hearing from you.
Tom Holian [email protected]
It will be really interesting how this week works out, as there are so many things that are going to come up this week, it is vital to be wise. I always love long term trading and it’s easier with OctaFX broker since they have amazing facilities that counts for swap free account, it’s just fantastic and helps me in every way. I really feel good and able to perform nicely which also brings fair amount of rewards for me.