Pound to Euro rates at a 6-week high

Given the struggle GBP/EUR has experienced pushing through the 1.13 barrier over the past month, with rates at a 6-week high of 1.15 it may be worth considering taking advantage and securing these highs. The use of a forward contract enables you to lock in the rate now for a small deposit, to avoid missing this opportunity feel free to contact our trading floor today on 01494 725353 and one of our experienced and friendly brokers will be happy to help.

Protect your profits. The risk of waiting?

Post Brexit, anyone selling Euros has seen unprecedented profits, with a €150,000 transaction delivering over £20,000 more now than before the referendum. With GBP/EUR rates at a 3-year low and some evidence of Sterling beginning to rally it may be prudent to secure these profits now.

Economic data releases

Eurozone Gross Domestic Product, released on Tuesday 15th at 10:00am measures the total value of all goods and services produced by the Eurozone and is a vital indicator of economic health. With consensus for the figure currently at 1.6% growth on last year, a figure above this could be seen as bullish and lead to EUR strength against its counterparts.

Is the Eurozone sustainable?

One of the founding fathers of the Eurozone, Professor Otmar Issing has admitted the Eurozone is in great jeopardy due to many weak economies being allowed to join without a sufficient exit strategy, temporary for those who fail to get up to speed or permanent for any choosing to leave. Over the coming months the strength and durability of the union will be under immense pressure which may trigger disunity and consequently unsettle the markets, presenting the opportunity to take advantage of any peaks and troughs in rates.

Europe’s leaders will have to find ways to keep their own domestic ‘Trumps’ at bay, Marine Le Pen of France and Italy’s Matteo Salvini to name but two.

This creates a difficult policy challenge for European leaders: they know they must devise counter-measures to the Trump hurricane, but are ill-equipped to decide anything before they have an idea of its force.

With the surprise victory of Brexit and Trump, the results of the European elections next year could bring about further surprises. Clients holding Euros to purchase Sterling may benefit from speaking with our team today to discuss potential options. Call our trading floor on 01494 725 353.

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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.