GBP/EUR is trading at around 1.15 as of 30 May 2026, near the top of its 2026 range, and most forecasts cluster between 1.13 and 1.18 for the next three to six months. That means euros are neither unusually cheap nor unusually expensive right now. For property buyers, expats and businesses making large international payments, the more important question is not catching a perfect rate — it is managing the risk of the market moving against your deadline. A clear transfer plan usually matters more than timing the market.
This guide is for anyone buying euros in 2026: purchasing property in Europe, relocating, paying a supplier, or repatriating funds. It covers where GBP/EUR sits today, what could move it, and the practical strategies euro buyers are using to protect their budgets.
Why are so many people asking if it’s a good time to buy euros?
This is one of the most common questions our specialists field from clients moving money internationally. The situation usually falls into one of four categories:
- Buying property in Spain, Portugal, France or Cyprus
- Relocating overseas
- Paying an international supplier
- Repatriating funds from abroad
The challenge is simple: exchange rates rarely move in straight lines. A movement of only 2–3% can change the cost of a large transfer by several thousand pounds. On a €300,000 purchase, that difference can run past £4,500 — which is why timing, and a plan to manage it, matters for anyone considering buying property overseas.
What is happening with GBP/EUR right now?
The pound has been relatively stable against the euro through much of 2026, trading in a fairly tight band. GBP/EUR sits around 1.15 in late May 2026 — close to the upper portion of its yearly range rather than at an extreme.
A large part of that stability comes down to interest rates. At their most recent decisions on 30 April 2026, the Bank of England held Bank Rate at 3.75% while the European Central Bank held its deposit rate at 2.00%. That gap of roughly 1.75 percentage points in favour of the UK has helped support sterling.
The main drivers of GBP/EUR from here include:
- The Bank of England and ECB interest-rate paths
- UK inflation data and eurozone inflation releases
- US dollar performance and global risk appetite
- The timing and tone of upcoming central bank meetings
You can track the live level any time on our GBP/EUR exchange rate page, and the latest analysis in our weekly currency outlook.
Will the euro get stronger against the pound?
It could. The single biggest influence on GBP/EUR is the interest-rate gap between the Bank of England and the ECB.
Right now that gap favours sterling: UK rates sit at 3.75% against the eurozone’s 2.00%. The euro tends to strengthen when that gap narrows — for example, if the Bank of England starts cutting rates faster than the ECB, or if eurozone data forces the ECB to sound more hawkish than expected. If the gap holds or widens, sterling is more likely to stay supported.
“The pound’s resilience this year has rested largely on that rate differential,” says Anthony Bull, CEO of Cambridge Currencies. “The risk for euro buyers is not a dramatic crash in sterling — it’s a gradual drift if the Bank of England turns more dovish than the ECB. For anyone with a fixed completion date, that drift is the thing to plan around.”
GBP/EUR forecast for the next 3–6 months
These are planning ranges, not guarantees — markets can move quickly around central bank meetings and inflation releases. You can see our full pair-by-pair view in the 2026 currency forecasts.
Base case — 1.14 to 1.17. The most widely anticipated scenario, with the pair broadly range-bound while the UK–eurozone rate gap holds.
Stronger pound — 1.17 to 1.18. If UK inflation stays sticky and the Bank of England keeps rates elevated for longer.
Stronger euro — 1.13 to 1.14. If the rate gap narrows, either through earlier Bank of England cuts or firmer eurozone data lifting ECB expectations.
Is waiting for a better exchange rate usually worth it?
In many situations, waiting carries more risk than people expect. A common mistake is delaying a transfer to chase an extra cent or two, only for the market to move the other way.
For large transfers, protecting your budget is often more valuable than trying to predict the exact peak. That is especially true for property completions, business payments, emigration funds and other time-sensitive transfers. The useful question is rarely “can I get a slightly better rate?” — it is “can I afford the risk if the market moves against me before my deadline?”
What are euro-buyers doing in 2026?
In our experience working with overseas property buyers this year, most are avoiding all-or-nothing decisions. Rather than exchanging a large sum on a single day and hoping it lands well, they are spreading the risk: staging transfers, setting rate alerts, and using a forward contract to fix the rate once their purchase is agreed.
One recent client — completing on a €420,000 villa in the Costa Blanca with eight weeks until completion — locked the bulk of their euros on a forward contract the day their offer was accepted, then left a smaller portion on a target rate. It removed the single biggest unknown from their budget at a point when a 2% move would have cost them more than £7,000.
Strategies euro-buyers are using in 2026
There is no single “right” approach — the best fit depends on your deadline, the size of your transfer and your appetite for risk. Three options are doing most of the work this year:
| Approach | What it does | Best suited to |
|---|---|---|
| Spot transfer | Exchanges at today’s live rate, settled quickly | Buyers who need euros now and want certainty today |
| Forward contract | Fixes today’s rate for a payment up to a set future date | Property completions, scheduled invoices, relocations |
| Target (limit) rate | Automatically exchanges if the market hits your chosen level | Buyers with flexible timing who want to capture a better rate |
1. Split your transfer. Rather than exchanging everything at once, many clients divide a transfer into stages — for example a third now, a third in a month and the balance later — to average out market movements.
2. Use a forward contract. A forward contract lets you secure today’s rate for a future payment, which helps remove much of the uncertainty around property purchases, business invoices and scheduled overseas payments. You can read how forward contracts work in practice, or settle immediately with a spot transfer if you need the funds now.
3. Set a target rate. A target rate order automatically triggers a transfer if the market reaches your chosen level, so you can act on a favourable move without watching the screen all day.
Worked example: a €300,000 property purchase
A two-cent move in GBP/EUR may sound small, but on a large purchase it is real money:
| GBP/EUR rate | Sterling cost of €300,000 |
|---|---|
| 1.16 | £258,621 |
| 1.14 | £263,158 |
| Difference | £4,537 |
That £4,537 swing comes from a market move of less than 2% — and it is exactly the kind of risk a forward contract is designed to take off the table. For larger sums, the same percentage move scales up accordingly, which is why large international transfers reward a bit of planning.
What this means for euro-buyers right now
GBP/EUR sits close to the middle-to-upper part of its 2026 range. In plain terms: the pound is not exceptionally strong, the euro is not exceptionally expensive, and the largest short-term risk is the next round of central bank decisions. For most people, a structured plan — staging, a fixed rate, or a target level — is worth more than an attempt to call the exact top or bottom of the market.
How Cambridge Currencies can help
Cambridge Currencies is a UK specialist currency broker handling international money transfers through FCA-authorised payment partners, with every trade completed by phone by a dedicated specialist. Whether you are buying a property abroad, moving overseas, sending a large family transfer or paying an international supplier, our team can help you:
- Monitor live market movements and set rate alerts
- Set a target exchange rate
- Lock in a forward contract for a future payment
- Speak directly with a dedicated currency specialist
You can read more about how we work and how client funds are safeguarded through FCA-authorised payment partners. For larger transfers, planning ahead generally produces better outcomes than reacting at the last minute.
Thinking about buying euros for a property purchase or relocation? Request a free quote and speak to a Cambridge Currencies specialist about your timeline and the right strategy for your transfer. Every transfer is handled personally, by phone, by a dedicated specialist who knows your situation.
Frequently Asked Questions
Is now a good time to buy euros?
GBP/EUR is trading around 1.15 in late May 2026, near the middle-to-upper part of its yearly range. Whether it suits you depends on your deadline and how much risk you can absorb — for large transfers, a structured plan usually matters more than the exact rate.
Will the euro get stronger against the pound in 2026?
It could, particularly if the gap between UK and eurozone interest rates narrows — for example if the Bank of England cuts rates faster than the ECB. With UK rates at 3.75% versus the eurozone’s 2.00%, the gap currently favours sterling.
What is the GBP/EUR forecast for 2026?
Most forecasts point to a broad range of roughly 1.13 to 1.18, with a base case around 1.14 to 1.17 over the next three to six months. These are planning ranges, not guarantees.
Should I exchange all my euros at once?
Many clients choose to split a large transfer into stages to average out market movements and reduce timing risk, rather than relying on a single exchange rate level.
Can I lock in an exchange rate now for a payment later?
Yes. A forward contract lets you secure today’s rate for a transfer up to a set future date, which is widely used for property completions and scheduled payments.
Does inflation affect GBP/EUR?
Yes. Inflation shapes expectations for interest rates, which are one of the largest drivers of the exchange rate. UK and eurozone inflation releases can both move the pair.
How much difference can the exchange rate make on a property purchase?
On a €300,000 purchase, a move of around two cents (1.16 to 1.14) changes the sterling cost by roughly £4,537. Larger transfers scale up accordingly.
Should I wait for the pound to get stronger before buying euros?
Waiting can work in your favour, but it can also increase costs if the market moves the other way before your deadline. A structured transfer strategy helps reduce that risk either way.
