We spoke with our sponsors at Optimal Currency to gain some insight into the recent news that might have changes to the euro.
GBP/EUR has hit its highest levels in nearly 2 years this morning. French president Macron called a surprise snap election in the early hours of Monday 10th June after the far right surged in France’s European vote.
Why has this weakened the Euro? Calling a surprise election adds heightened uncertainty to the market. This causes investors to pull funds out of a currency in search of safer assets. With France being a major player in the Eurozone, this has caused the Euro to fall back against all the major currencies and helping the GBP/EUR cross to spike to multi month highs.
Get in touch with David Bayliss at Optimal Currency to discuss your requirements in more detail.
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