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GBP to EUR: what drives the rate

Since Brexit the pound and euro have moved much more independently than they used to. Before 2016 the pound was relatively stable against the euro for years at a time. Now the rate shifts with each Bank of England decision, UK inflation reading, and any news that affects confidence in the British economy. For anyone receiving income in one currency and spending in another, this creates real planning challenges.

If you are moving money between the UK and Europe regularly, services like Wise and Revolut typically offer rates within 0.5% of the interbank rate, which is far better than most high street banks. For larger transfers, a specialist FX broker can sometimes lock in forward rates if you are worried about the rate moving against you.

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