Has the exchange rate bottomed out?
While Sterling lifted off 5-month lows against the Euro yesterday, it could be a short-lived recovery.
Reuters has reported that hedge funds have been building up their negative bets on Sterling in recent weeks.
The ‘race to replace’ May has brought with it increased uncertainty.
Boris remains the clear favourite to become the next PM.
He seems determined to leave the EU with our without a deal – which is placing the Pound under pressure.
However, as we know...
Nothing is guaranteed when it comes to Brexit.
Labour is already working on a cross-party plan to make a no-deal Brexit illegal.
If you need to sell Euros at present, you might consider taking advantage of Sterling weakness and locking-in a rate of exchange.
On the other hand, if you need to purchase EUR from GBP then you need to weigh up whether you can afford for the rate to fall any further.
Although the rate has been higher, it’s also been a lot lower too.
Please contact us directly on 01872 487 500 to discuss this in more detail.
Or to find out current exchange rates, please click on the link below.
Thanks For Reading, What Next?
Have a great day, Geoff Lambourne - Direct Dial me on 0044 (0)1872 487 470.
Wednesday 12th June 2019 at 13:10
£1.00 GBP = 1.1253 EURO
£1.00 GBP = 1.2741 USD
£1.00 GBP = 1.8335 AUD
£1.00 GBP = 1.9369 NZD
£1.00 GBP = 1.6945 CAD
£1.00 GBP = 18.8086 ZAR
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