Sterling Euro rate - will it recover??

Further losses have been made this week for Sterling against the Euro due to a flurry of poor data for the pound including news yesterday that the number of people claiming unemployment benefit rose by 137,000 to 1.86 million in the three months leading to October.

At the start of todays trading we are already heading dangerously close to the 1.05 mark against the Euro, and we are currently sat at 1.0652 at the time of writing this mini report.

Airports are now handing out less than €100 for every £100 traded and this really is going to increase the cost of that pint of San miguel next time you head over to Spain.

This vicious circle looks set to continue as more and more people sell off their Sterling, and in my own personal view I believe we will be at parity before the year end unless we see some terrible data released for the Eurozone or equally have some extremely positive news for the u.k.

If you have an upcoming currency requirement it may be sensible to book out a rate now, as we are losing lots of ground on a daily basis against most major currencies and there is absolutely nothing to suggest this will improve in the near term.

This is a brief summary of todays report. Click here to read the full report on our main website

If you are buying a property abroad, and want the best exchange rates, just click on the links below to go straight to our main site, or Email Me




Have a great day and thanks for reading!

Daniel Wright