It’s a topsy turvy time for GBP to Euro.
The market seems to be ignoring economic news at the moment as we await Brexit developments.
With only 10 weeks to go, there is still hope that a last-minute deal can be struck.
Some analysts are stating that they see limited upside in Sterling even if a deal can be reached.
The wider problem is the outlook for the UK economy.
The Bank of England is considering negative interest rates.
But we have no historical example of a country combining negative rates with a large trade and budget deficit.
Investors are scratching their heads as to what currency impact that would have.
Do three negatives make a positive?
Lingering in the background is also the imminent US election.
That will also bring uncertainty for global politics and currency pairs going forward.
There is always an element of uncertainty in exchange rates, but right now we face an abnormal degree of complex events with unpredictable outcomes.
Amidst this situation, you may consider locking-in a rate for peace of mind.
If you would like to discuss your options, you can speak to one of our experienced team on 01872 487 500.
Or to find out our latest rates, please click below.
Thanks For Reading, What Next?
Have a great day, Geoff Lambourne - Direct Dial me on 0044 (0)1872 487 470.
Current rates:
Wednesday 28th October 2020 at 09:20
£1.00 GBP = 1.1083 EURO
£1.00 GBP = 1.3045 USD
£1.00 GBP = 1.8272 AUD
£1.00 GBP = 1.9454 NZD
£1.00 GBP = 1.7222 CAD
£1.00 GBP = 21.1986 ZAR
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