This Euro report will examine the factors that could affect exchange rates in the coming weeks in order 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 30 days.
|Currency Pair||% Change||Difference on £200,000|
ECB President Mario Draghi remains bullish about the Eurozone economic growth, the current monetary policy programme is working but with high unemployment across many countries within Europe and inflation levels still at a lack lacklustre low of under 1.2% there is still a huge amount of work ahead.
We have seen the Euro go from strength to Strength against the pound in the last couple of months.
It is my view that with the continued Brexit talks and the “divorce” bill looming sterling could continue to fall further against the euro.
Within Europe recent headlines have all been about Brexit, but something we do need to consider is where the Euro might be in the coming weeks and months ahead once the reality hits that the UK will be leaving the Eurozone? Will our departure affect any forthcoming trade deals within Europe for the remaining members? And what could this mean for any other members of the bloc considering their future options? While the euro is currently sat in a very strong position, uncertainties do lie ahead.
In my view the next couple of months could be a vital time for the future of the Eurozone and also the long-term future for the UK. With key Brexit talks ongoing, and vital trade deals being drawn up, the coming weeks and months will start to give us an insight of what to expect in the not so distant future.
It is a fairly quiet week ahead in terms of data releases for the Eurozone, we have a few minor data releases tomorrow in industrial confidence, business climate and consumer confidence figures for July. If there is a huge swing in any of these data releases expect to see some market movement.
With EUR/GBP at close to a 7 month high, and not far from the best rate we have seen since 2008, now is a good time to think about any upcoming transfers you have. Get in touch with one of our traders for more information on how we can assist you.
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 here.
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