Post election GBP to EUR prediction?

[Griff Boy]

Hi all,

Now that the election has been decisively completed, I’m looking for some advice on the predictions on the GBP to EUR exchange rate.

I need to move a reasonable sum of money (circa £50k, so large for me!) from a UK account to my Spanish account for a future small property purchase. I need it in my account in Spain by the end of April/May time. Currently it’s at 1.21 ish, what would you predict the rate to do? Is it likely to go up further in the next few months? Could it possibly hit 1.3? Or should I just cash in and transfer it today ?

Any advice would be appreciated.
Thanks in advance
GB

[Griff Boy]

anonymous said:

[redacted]

Cheers for the advice, so split the risk basically? Move half now and then sit on the rest and see what happens? The rates already dropped a little, but still above my target threshold..

[mikeiow]

Griff Boy said:

Cheers for the advice, so split the risk basically? Move half now and then sit on the rest and see what happens? The rates already dropped a little, but still above my target threshold..

Generally a good idea, I find.
Depending whether there are fees: if not, you could potentially transfer 25% a month for 4 months, smoothing out any averages.

Remember: no-one here has a crystal ball on what might happen, even now we anticipate a brexit by the end of January....