Hmm…. how does the vendor feel about this? Friends of mine bought in France at GBP1 = FF12 and sold at FF8 = 1GBP. The last thing they would have agreed to was the opportunity to give away a stonking great gain on FX at a time when GBP was dodging about at the bottom of the curve.
Both parties are going to have to ‘take a view’ (I love this phrase. It covers everything from a carefully considered analysis, with stats and evidence, to a wild, panic-stricken punt) on the way GBP <> € might go over the next 4 months. And week may be along time in politics but 4 months is an eternity in fx.
If I was in the vendor’s shoes I think I’d ….. No. It’s no good. I can’t even think what I’d do in his place, me with nothing to lose but looking a fool. Except – if you are the only game in town …