Getting the best exchange rate can be achieved by understanding what is driving rates and the service of a specialist currency broker. Below are movements in just a month affecting Pound Sterling rates when buying £200,000 during trading hours on 6th December:
|Currency Pair||% Change||Difference on £200,000|
The Euro is likely to see another period of heightened volatility in the run up to Christmas after campaigning commenced in the regional elections this week.
The election in Catalonia will take place 21st December and will see a vote like never seen before. The deposed Catalan vice President Oriol Junqueras will make his appearance in this election from a Spanish prison having been detained since his arrest whilst now facing charges of sedition, rebellion and misuse of public funds.
Meanwhile a court in Belgium will decide on 14th December whether deposed Catalan leader Carles Puigdemont will be sent back to Spain after a European arrest warrant was issued by the Spanish courts. Although he will be campaigning as a candidate in this election he will be doing so from Belgium. A very close election result is expected so expect more volatility for Euro exchange rates. Any further move towards independence is likely to put additional pressure on the Euro.
Clients looking to sell Euros for Pounds may wish to move sooner rather than later and take the risk out of the markets in this ever-changing situation. The Pound is likely to strengthen in the event of a deal being agreed to complete the first round of the Brexit negotiations. Assuming a deal can be hammered out then this is likely to materialise before the EU summit on the 14th & 15th December. At the moment there appears to be a will for it to happen from all sides and a sharp jump higher is the most likely course for GBP EUR.
EU Gross Domestic Product data for the third quarter is released this morning and could create some market movement for the Euro. GDP is expected to remain at 2.5% for the year and anything above this could prove beneficial for Euro exchange rates.
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.
Always helpful and extremely efficient. You have saved me a great deal of money over the last 10 years I have lived in Cyprus.
Excellent overall experience, helped by professional advice, quick and simple transaction and a very competitive rate.
Very efficient and professional. Excellent customer service.