Sterling Edges Up Slightly against the Euro

The Pound Continues Its Fightback

GBP exchange rates have edged slightly up against the Euro today gaining 0.2%.  The pound started brightly this morning before falling back this afternoon with most of the early morning gains caused by Moody’s the credit rating agency downgrading Ireland’s status to just one from Junk. However the pounds gains were limited as expectation for the European Central Bank to raise interest rates ahead of the UK still keeps pressure on the pound. This is a trend I believe will continue and until we see rumours gather for a UK rate hike, I firmly believe the pound will continue to struggle.