Pound Falls as Brexit Agreement Stalls

In the past few weeks, good news of a vaccine coupled with the expectation of an imminent BREXIT agreement saw the pound gain substantial ground against the major currencies. GBP/EUR nearly hit the 1.13 level – the best in weeks.

However, this week the pound plummeted again, as BREXIT negotiations seemed to have hit a dead end. Yesterday, the GBP/EUR rate went down to 1.09 as fears of no-deal became the big headline.

Since then, the pound has recovered some of these losses after news that Boris Johnson is due to travel to Brussels to continue the efforts to secure an accord. GBP/EUR climbed back to 1.10 on the hope that this meeting, which may take place on Friday, could produce a positive resolution.

Until then, the pound will remain volatile and extremely sensitive to rumours, headlines and political speculation.

For those needing to exchange funds, all the current volatility can be overwhelming. So it is more important than ever to get some expert guidance.

Opening an account with a foreign exchange specialist like moneycorp will give you access to free expert guidance and currency tools to monitor the market considering your circumstances, from your budget, to your deadlines and your attitude to risk. Furthermore, opening an account doesn’t involve any cost or obligation.

Why moneycorp?

With a Platinum Trusted Service Award 2020 from independent review site Feefo and 40 years of experience in the industry, FrenchEntree has been recommending moneycorp for more than 15 years. During this time they have helped thousands of client planning the best way to pay for their property as well as supporting them afterwards with any further payment from paying bills, mortgages to repatriating UK pension payments for those who have retired to France.

Furthermore, we have worked with the same person at moneycorp for more than a decade! You might be familiar with her as she often writes for our FrenchEntree magazine. She has 13 years’ experience in foreign exchange, and is a qualified European lawyer with experience in European transactions. Mar will be happy to answer any questions or enquiries to support you through these difficult times

Opening an account is really easy and free of cost. You can register online or over the phone in a couple of minutes and for FrenchEntree there are no transfer fees in any payment.

Open a free account today by clicking here.

Contact moneycorp at 020 3773 6355 or send your enquires here.