Pound down against the Euro ahead of court ruling in Germany

GBP EUR Drops After GDP Misses BoE’s 5% Target

Pound exchange rates have fallen against the Euro in advance of the much anticipated ruling from Germany tomorrow morning. Germany’s Constitutional Court will go ahead with a long-awaited ruling on Wednesday on the legality of the euro zone’s new permanent bailout fund and budget rules. The ruling is set for 9:00 BST and will go a long way in determining the short term moves for the GBP/EUR pairing, should the ruling not go through we could see some strong losses for the Euro and vice versa should the ruling be in favour of the European Bailout Fund. Personally I feel an positive ruling will be seen for the Euro and I would expect the Euro to gain as a result, this could see the rates move into the 1.23 territory as a result.

To discuss my views and the recent market trends then please do not hesitate to contact me (Mike Vaughan) and I will happily run through my thoughts and views on current market conditions. As a specialist currency broker a number of tools can be utilised in an attempt to maximise your currency exchange and I would be more than happy to run through these and the service I provide in more detail. Savings when using a broker can be well in excess of 2-3% when compared to the
banks so please contact me directly on [email protected] or call 01494 787478 to discuss the service in full.