The Pound has appreciated to a 3 month high of 1.1947 against the Euro and appreciated against the US Dollar to 1.2695 following hints from UK BREXIT Minister that the UK wanted to get the best possible access for goods and services suggesting paying for access to the Single Market may be an option.
This Sunday Italy holds its referendum on constitutional reform with Prime Minister Renzi pledging to resign if voters don’t vote for his proposals. Whilst this is not a vote on EU membership there will be significant implications if Renzi resigns as a new caretaker government would likely be appointed and new elections could follow as early as next year. This could open the door to the election of the Five Star Movement a populist, anti-establishment party that has said in the past it wants to call a referendum on membership of the Euro.
Please do not hesitate to contact the dealing team on telephone +44 (0) 1695 581 669 to discuss how upcoming events could have a bearing on the cost of your foreign currency payments and how Currency Matters can save you time and money.