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% ChangeDifference on £200,000
GBPEUR3.32%€7,180 EUR
Juncker concessions stops trade war, or puts it on hold?

Carles Puigdemont is arrested, then freed. What next?

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.

What else will drive the Euro this week?

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.

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Exchange rates on this page are interbank rates and indicate where the market is trading to show the performance of a currency pair. They are not indicative of the rates which we offer. The information on this web site is provided free of charge for information purposes only. It does not constitute advice to any person on any matter. Foreign Currency Direct plc. ("FCD") makes every reasonable effort to ensure that this information is accurate and complete but assumes no responsibility for and gives no warranty with regard to the same.