This Euro report will examine the factors that could affect exchange rates in the coming weeks to help you stay informed if you need to make a currency transfer. The table below shows the difference you would have received when buying £200,000 at the high compared to the low for the past month.
|Currency Pair||% Change||Difference on £200,000|
The Euro has remained on the weaker side ever since the sacking of Carles Puigdemont and his government last week, news of an election called for December has given some direction to events and helped the Euro recover. Belgian police arrested and freed the controversial Catalan leader following the issue of an EU arrest warrant by Spain. He will appear in a Belgian court within 15 days. This issue is going to continue to weigh on the Euro with the Spanish government seeking to hold those responsible to account. For now, Spain has suspended the Catalan region's autonomy and the new elections in December will allow some of the dust to settle on the recent quick developments.
Despite the pro-independence supporters' best efforts there is no change in the legal status of Catalonia. What is changing quickly however is economic conditions.
Tourism is taking a hit and almost 2000 businesses have moved their headquarters out of the region. Spanish stocks and the Euro have both been affected, if you are selling Euros in the future this issue could see the value of your transfer fall in the coming weeks.
It is a fairly quiet week of economic data ahead. Today at 9 am we have Services and Construction data due. Then tomorrow we have the latest Eurozone Retail Sales data due at 10 am. The Euro has been a little weaker lately on the uncertainty over Spain and the decision by the European Central Bank to extend their QE program for longer.
Overall GBPEUR is 2 cents away from the best rates to buy Euros over the last 3 months which despite last week’s fall for sterling is not bad going at all. For Euro sellers the outlook remains reasonably positive with political instability and economic concerns weighing more on the UK than the Eurozone. Euro sellers remain at close to multi – years however so if you have a transfer buying or selling Euros for pounds please highlight the requirement to us today.
Thank you for reading my Euro currency report, if you have any questions about Euro exchange rates I would be more than happy to discuss them – you can contact me with any queries on 01494 725 353 or email me here.
Jonathan Watson as ever, ensures a smooth, reliable and trustworthy transaction for the second time of service! Delightful to deal with – efficiency personified. Thank you Jonathan. Would recommend highly – 5Star.
Excellent initial guidance, and during the transaction regular communication and updates. Dealing with Jonathan Watson was a pleasure. Very reassuring.
Jonathan Watson provided very helpful advice throughout the process, as well as immediate responses to our inquiries. He and his team were patient and thoroughly professional, which helped us through some stressful moments following the sale of our property in France.