top cx logo
cx logo
Explorearrow down
search icon

Is euro weakness set to continue?

Is now the time to move sterling to euros? We ask analysts for their predictions

STERLING’S best exchange rate against the euro since November 2008 is good news for anyone in France with a UK pension or savings – but the rates are volatile so now is a good time to fix a good deal, currency experts say.

Exchange firms say they have seen a surge in demand from customers moving money to France or arranging future exchanges locked in at today’s rates. Elisabeth Dobson at World First said: “People should be hedging themselves if they are on a tight budget.

“If you’ve been doing some of your sums around these levels, book now. There is an element of volatility. The rate could continue to get better but it could also get worse.”

She said World First had seen a “massive increase” in people moving large sums to buy property since May. “People are returning to the market and being a bit more confident,” Ms Dobson added.
“Those who are in the market to buy are going for it now.”

HiFX analyst John Freeme said the rallying pound had come as a surprise. “If you’d asked anybody six months ago if you’d see these sorts of rates, more than likely the answer would have been no,” he said. “It looks unlikely that we’ll see the euro turn around in the short term,” he added. “Most forecasts out there are expecting e1.24 or e1.25 in the next three months.

“However if you look at long term forecasts coming out of some of the big institutions it seems unlikely you’re going to see a return to 1.4. The global economy doesn’t have the momentum for that recovery.”

MoneyCorp’s representative in Normandy and Brittany, Philippa Weitz, agrees that anyone thinking of moving a sum from the UK to France should consider fixing rates. “If you don’t need your money this week or this month, it is worth doing a forward purchase,” she added.

Resident or second-home owner in France?
Benefit from our daily digest of headlines and how-to's to help you make the most of life in France
By joining the newsletter, you agree to our Terms & Conditions and Privacy Policy
See more popular articles
The Connexion Help Guides
featured helpguide
Visa and residency cards for France*
Featured Help Guide
- Visas and residency cards (cartes de séjour) for France help guide - Understand when visas and residency cards are required to move to France or come for an extended stay - Applies to Britons (post-Brexit) and to all other non-EU/non-EEA/Swiss nationalities - Useful to anyone considering a move to France, whether for work or otherwise, or wanting to spend more than three months at their French second home
Get news, views and information from France