GBPEURO rates continue to fall as June 23rd referendum approaches…

11-06-2016

GBPEURO rates have continued to decline in the last week as the leave campaign takes a tentative lead in the polls.

Euro buyers may have already missed the boat if hoping for higher rates as the vote closes in, 6 cents have already been wiped out since market levels rose to 1.30 less than seven days ago.

My expectations would be for further Sterling weakness as investors look to more secure currencies to invest in before the 23rd.

The Dollar has also seen recent strength in the last 24 hours seeing a loss of 2 cents against the pound.

In my opinion positive UK data will on the whole have little impact on rates at the moment as polls and surveys take precedent on affecting GBPEURO rates.

Tuesday may present the best opportunity of next week for Euro buyers if UK output figures show favorable levels. Even this is unlikely as the UK economy slows down as demand falls on the run up to the referendum.

My advise to my clients would be to act sooner rather than later if you require currency in the next 4-6 weeks.

On the flip side those that have been holding on to currency are being presented some great levels to convert back into sterling presently.

As usual our buy rates are high street beating so if you need a quote on selling your leftover currency feel free to drop me a message at accounts@currencydeals4u.co.uk or alternatively customers can use our contact form on the website.

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