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Exchange rate from pound to euro: the Brexit can: sharp appreciation & # 39; cause HIGH in GBP 6 months

Exchange rate from pound to euro: the Brexit can: sharp appreciation & # 39; cause HIGH in GBP 6 months

The pound is supported by Brexit optimism, as the hope swells that a deal is coming.

Analysts believe that a Brexit deal would lead to a substantial rally in the pound.

James Athey, Money Manager at Aberdeen Standard Investments said: "A deal would mean that the next two years would be subject to EU-equivalent conditions, and it has the potential to generate the highest valuation in a long time."

Brexit news has helped to have the upper hand & # 39; on the dollar and the euro, said Laura Parsons, currency analyst at TorFX.

The pound is currently trading at € 1,148 against the euro, according to Bloomberg.

"The GBP / EUR exchange rate came up shortly above € 1,150 when the week came to an end despite some disappointing British housing data," said Parsons.

"If today's growth data makes an impression on the pound, the week may end at a high level, but an under-result may show Sterling the recent steps."

The appreciation against the euro came earlier this week when Brexit Secretary Dominic Raab, 44, responded with a "thumbs up" when he was questioned about the outcome of a crucial Brexit Cabinet meeting in Downing Street.

Raab and other supporters of the Brexit Cabinet are expected to support the plan to leave every proposed Irish backstop with a notice period of several months.

The last trade balance of Germany was published yesterday by the German statistical office Destatis.

The data showed that German exports had a significant hit at the end of the third quarter, shrinking 0.8 percent and expectations were stagnating by 0.3 percent, as tensions in world trade seemed to be decreasing demand.

Carsten Brzeski, chief economist ING Germany explains: "The trade data end a disappointing week for the German industry, with available monthly data indicating that the economy has achieved its worst quarterly performance in 3Q since the start of 2015."

Looking ahead to today, GBP / EUR exchange rates can test the waters of € 1.15 after the publication of the UK's latest GDP figures.

According to economists, Friday's data will show a marked rise in British economic growth in the third quarter, with GDP expected to rise from 0.4 percent to 0.6 percent, as warmer weather during the summer encouraged consumers to spend more.

Meanwhile, a slowdown in eurozone data may make the euro vulnerable to further losses, especially if the markets remain bearish relative to the single currency.

Holidaymakers who travel abroad should ensure that they get the best value for their money.

Instead of showing up at the post office during the week of your trip or at the exchange office at the airport, the best travel advice that travelers should consider is to follow the financial situation throughout the year.

Research by Forex Educator, Learn to Trade in collaboration with YouGov, calls on the British to closely monitor the potential impact of current events on the forex and foreign exchange markets in order to get the best deal for their holiday allowance.

"The foreign exchange market is incredibly volatile," said James Mathews, CEO of Learn to Trade.

"Values ​​can rise and fall with little warning, and by not observing how exchange rates fluctuate regularly, you may miss a trick.

"Those small percentage differences can not mean much at first, but a change of one point can mean the difference of £ 50!"

A huge 55 percent of Britons buy their travel money between a day in advance and once abroad while only nine percent buys foreign currency throughout the year and looks at the market for a good & # 39; exchange rate.

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