This Euro exchange rate forecast looks at what events could influence EUR rates in future. In the table below you’ll see high to low Euro exchange rate movement when exchanging £200,000 to Euros from the start of 2017 until today.
|Currency Pair||% Change||Difference on £200,000|
Euro sellers during the month of August found themselves at times trading at some of the best rates in the last 8 years when selling Euros for Pounds.
With many of our clients repatriating Euros back into Pounds after having sold property abroad we’re now being asked whether the Euro to Pound rate will return to the levels of last month.
There are still a number of major financial economists and institutions such as Citi and HSBC forecasting parity for the pair during 2017, but Euros sellers must also consider that similar predictions that never materialised were made in the lead up to the Brexit vote last year.
The Pound has fallen by around 15% since the vote and clients converting Euros into Pounds are able to base their trades off of mid-market levels over 10 cents above what’s considered to be the average level over the past decade.
If you’re in the process of selling a property or liquidating an asset into Euros and wish to discuss or even secure exchange rates prior to actually receiving the proceeds, feel free to arrange a call with us at FCD as we may offer contracts that allow clients to do this.
Earlier this week a survey published by the Independent found that the City of London is still the world’s financial capital, despite Brexit concerns. A French economy minister (Benjamin Griveaux) has since predicted Paris overtaking the city within the next 5 to 10 years which I find interesting as Paris is currently in 26th spot according to the Z/Yen global financial centres index.
Late last night UK chancellor Philip Hammond held a speech in the City and said he will protect its position as the global financial capital, and his priority is to devise policies that will allow the UK to protect its position. It will be interesting to see how this topic effects the GBPEUR value in future, as strong gains for Paris or Frankfurt are likely to boost the Euro’s value.
The election in Germany this month on the 24th has the potential to create volatility for the Euro, especially as Germany is the key economy within the EU and Merkel is such a long standing leader.
If she comes under pressure I expect to see the Euro weaken, as political certainty is key for the area during the negotiations with the UK in my opinion.
In the short term there are Trade balance figures out tomorrow at 11am, so if you have an upcoming transfer to make planning it around this time could be worth considering.
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 at firstname.lastname@example.org.
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