With the currency markets moving every two seconds, it can be vitally important to be aware of what is driving the currencies in or out of your favour. The table below shows the difference in Euros you would have achieved when buying £200,000 for the high and low points this year to date.
|Currency Pair||% Change||Difference on £200,000|
A key figure from within the EU did her part yesterday in terms of hurrying up the Brexit negotiations process.
Catherine McGuinness, who is essentially the political leader of the City of London as Policy Chairlady, yesterday warned that time is running out to prevent a City of London exodus, and that Britain is risking losing thousands of jobs to overseas competition if the Brexit process continues to drag on.
London is home to the global foreign exchange, bonds and fund management operations as well as being home to more banks than any other financial centre.
Since before the Brexit vote there have been warnings that the UK could lose business to the likes of Berlin and especially Paris, and in terms of currency valuations I would expect to see a sharp sell-off in the Pound if it’s publically announced that the UK is due lose out as a direct result of the Brexit. McGuiness mentioned a figure of 15,000 jobs being at risk to some scope to her warnings.
Major Japanese lender, Nomura recently offered their insight into the Euros future value.
They believe the Euro will drop in the weeks to come as the ECB takes another step towards policy normalisation, and that any talk of Quantitative Easing cuts won’t come as a shock to the markets after ECB President Draghi’s recent comments. Feel free to get in touch if you have a Euro currency requirement and would like to discuss these predictions in further detail.
Yesterday’s inflation data met expectations leaving the markets relatively unchanged, although this Thursday’s ECB Monetary Policy Statement could result in Euro exchange rate movement if any particularly bullish or bearish comments are made. This speech will start around 1.30pm on Thursday.
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.
My experience with Foreign Currency Direct has been excellent, and my account Manager Joseph Wright has been First Class. He has provided me with all the information that I needed, in a very clear way, that made it easy to understand.
Successful transfer to France. I have used Foreign Currency Direct several times. Nothing is too much trouble to explain, and when it comes to the actual transfer, it takes place on time without fuss. Never had a problem. Thank you Joseph!
Very efficient and responsive. We had great service from Joe Wright who helped us (patiently and with humour) through our currency purchase and was then able to guide us through the process of sending money to France for our property purchase.
Joseph treated us very professionally as well as friendly, and advised and went beyond his duty. Would recommend and use him again.