Pound Sterling GBP – The week so far and my thoughts

GBP EUR Exchange Rate: Weekly Review July 16  

With very little data out for the U.K at the start of the week the Pound has performed reasonably well against the majority of major currencies.

Against the Euro Sterling has clawed back from some the the losses seen last week giving a sigh of relief to those with pending property purchases in Spain France etc.

We remain reasonably solid against the Dollar meaning trading levels are still over and above the 1.60 barrier and the next few days are key for the strength of the Pound towards the end of this week.

Aidan will type up a more detailed overview towards the end of the day however most notable for the Pound is Bank of England minutes at 09:30am tomorrow morning, one to keep a very close eye on!!

Personally I think gambling on the markets with pending transfers is of high risk at the moment as there are just so many factors effecting exchange rates, I still feel the Pound is undervalued however until we see some movements in interest rates, or at least a fairly imminent change due then the Pound may be shackled.

If you are buying a property abroad, have business transactions to carry out or need to get money overseas for any other reason and want the best exchange rates, just fill in the form on the right hand side and one of the experienced traders that write on this blog will be in touch shortly.