The Pound is Continuing To Weaken

During this afternoons trade the pound has been very flat against most majors. Against the Euro the pound is hovering at 1.1224 and against the US Dollar we are trading at 1.6268.

Yesterday’s lower than expected inflation figures are still hampering the pound as the chances of an interest rake hike is looking more unlikely in the next month.

In fact the UK is going to have to produce some outstanding economic data to help push the pound in the right direction over the coming weeks. Today we had better than expected employment figures and the pound still weakened.

I feel their will only be light at the end of the tunnel once the Bank of England make it clear that interest rate hikes are on the horizon. This seems a good few months off at present.

If you have a requirement to buy Euros I feel that we may see levels drop close to 1.09-1.10 shortly. If you want any assistance with securing extremely favourable rates of exchanges then feel free to contact us through the enquiry form on the side of this page.