What has happened?
The euro is continuing to strengthen against the UK pound, meaning that if you have euros that you need to convert into pounds now could be a good time to do it.

Why has it happened?
There are major concerns around the UK’s weak economic data and an expected rate increase from the Bank of England – though the Bank has delayed lifting rates from March 2016 until at least November 2016.

We have also seen volatility on the equity markets, and that too has played a role in the present situation.

What does this mean for those who want to convert euros into Sterling?
If you need to move money from a Eurozone country to the UK, now could be a good time to convert your euros into Sterling. If you feel that current exchange rates would be useful for you in the longer term, you can also lock them in for use at a later date with a forward contract.

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* Information courtesy of Currencies Direct
The contents of this report are for information purposes only. It is not intended as a recommendation to trade or a solicitation for funds. Currencies Direct cannot be held responsible for any loss or damages arising from any action taken following consideration of this information. This article was written Currencies Direct.