• Home
  • Contract options
  • Charts
  • Compare exchange rates
  • The process
  • Testimonials
  • About Us

Pound Sterling Forecast

Pound Sterling Forecast - Expert opinions on foreign exchange

  • Economic data
  • Predictions
  • Sterling strength
  • Sterling weakness
  • Euro
  • USD
  • AUD
  • NZD
  • CAD
  • CHF
You are here: Home / Economic data / Sterling suffers another sell off – BOE members comments lead to GBP/EUR hitting lowest levels since the U.S election (Daniel Wright)

Sterling suffers another sell off – BOE members comments lead to GBP/EUR hitting lowest levels since the U.S election (Daniel Wright)

July 11, 2017 by Daniel Wright

Sterling exchange rates took another bashing today, breaking through the range that we have been stuck in for the past month and leading the GBP/EUR rates hitting the lowest levels we have seen since the U.S election (8th November 2016).

For anyone selling foreign currency to buy Pounds this may be another fantastic opportunity and for those looking to buy foreign currency in the near future, the fact we have now broken through this level of resistance would be a bit of a concern.

Today the markets listened closely to Bank of England MPC member David Broadbent speak, and had hoped for comments on his thoughts on an interest rate hike. Unfortunately he didn’t feed the markets with what they wanted and spoke fairly negatively about the economy as a whole, leading a sell off for the Pound.

Interest rates are one of the key points of focus at the moment and anyone who has hopes of a Sterling recovery will need positive comments about an interest rate hike being something that could happen this year. Today’s comments bought the expectation of a hike this year down so did quite the opposite.

For a long time now, major economists and analysts have been warning that the Pound may face a huge drop off due to brexit and how it will impact the economy , and there is a worry that this could be starting to come true.

After the issues we saw with the recent election and the uncertainty that that caused we were hoping that economic data over the past week or so would start to back the Pound up but so far all we have seen is negative after negative and signs that although the economy isn’t totally falling through the floor it certainly isn’t doing that well compared to expectations.

Tomorrow morning we have the release of unemployment figures and average earnings figures. Average earnings are expected to drop off a little which again would be negative for Sterling as inflation is on the up. This means goods and services are costing more but people are earning less, a very bad sign for things to come.

If you have the need to buy or sell foreign currency in the coming days, weeks or months then this is the most important time to have a proactive and efficient broker on your side.

All of the writers here at Pound Sterling Forecast work for a brokerage which has been in operation for almost 18 years now, and we have had thousands of clients contact us through this site that have not only saved money, but also realised they can get a better service than banks or other brokerages.

if you would like to speak with me personally, or to find out more information about the service we offer then feel free to email me (Daniel Wright) on djw@currencies.co.uk with a brief description of what you are looking to do and I will be more than happy to assist you.

Filed Under: Economic data, Euro, Predictions, Sterling weakness Tagged With: BOE, exchange, fall, GBPEUR, interest, pound, rate, rates, sterling

Exchange rates

Other currency exchange blogs

Euro Rate Forecast

Offering insights on events impacting Euro exchange rates.


Australian Dollar Forecast

The name gives it away... this website discusses Australian Dollar exchange rates.


GBP Euro Forecast

This website offers commentary on what's affecting GBP to Euro exchange rates.


Pound Euro Exchange

A blog which discusses Pound to Euro exchange rates.


Archives

Tags

AUD australian bank of england best exchange rates best GBP/EUR exchange rates best uk exchange rates Brexit buy euros buying euros currency currency transfer dollar ecb eurgbp euro Euro exchange rates exchange exchange rate exchange rates forecast gbp GBPEUR GBPEUR exchange rates GBPEUR Forecast GBP Forecast GBPUSD GBPUSD exhange rates GBPUSD forecast gdp nzd pound pound sterling forecast rate rates save money Selling Euros sterling sterling exchange rates sterling forecast Sterling strength strength tom holian usd US Dollar weakness

Copyright © 2018 — Pound Sterling Forecast • All rights reserved. Privacy Policy • Disclaimer