Analysts from all over the world have been closely following the value of the Great Britain Pound in times of uncertainty. Many factors are suggesting that it is very likely for the value of Pound Sterling to fall below Euro soon.
At the moment, you can exchange 1 pound sterling for 1.13 euro according to Bank of England. As for the future, online betting sites in UK estimate odds for the value of Pound Sterling to fall below Euro at (10/1) by January 1, 2018. Why are the odds so high? Let’s find out.
Brexit Issues Still Unsolved
The UK has been faced with political uncertainty since Brexit in June 2016. From a sudden change in the government to the EU divorce, it makes people unwilling to invest in the UK. The lack of new investment then leads to a weaker currency by default.
Recent Brexit negotiations did bode well either. The UK and the EU has yet to finalise the exit agreements. If a country is still plagued with uncertainty like this, it would come as no surprise for the value of Pound Sterling to fall below Euro in the upcoming year.
Pound Devaluation Since Then
Ever since Brexit, the Pound Sterling has already depreciated by 14% against the Euro. The highest exchange rate was 1.42 GBP to 1 Euro in 2015. After that, the Pound Sterling only saw a decreasing trend.
It’s worth a note that in multiple currency exchange places, the Pound is already worth less than Euro. According to UK gambling news, tourists reported that they only got 0.91 Euro per 1 Pound when exchanging in Oxford Street, London. This shows that the possibility for the value of Pound Sterling to fall below Euro is becoming more certain.
UK Not Doing So Well Financially
Financial services make up three quarters of the UK economy. With Brexit looming ahead, the British government has to negotiate access into the financial market within the EU. Could failure to agree cause the value of Pound Sterling to fall below Euro?
Bet on the value of Pound Sterling to fall below Euro!
Value of Pound Sterling to fall below Euro in the Near Future?
We can’t argue that the European Union has a better financing position right now. That’s why the Euro is considered a safe haven by most people, and not GBP or USD. If you have been convinced, visit Unibet Sportsbook and bet on the value of Pound Sterling to fall below Euro by the 1st of January 2018!