Sterling hits 1 month high against the Euro

Pound to Euro Forecast - Leadership Contest Drives GBP/EUR Rate Lower

Better than expected UK PMI for Construction has helped the pound reach a one month high against the Euro. This morning’s data is particularly significant because the reading of 50.9, above 50, represents a return to growth in the sector according to the index. The Construction industry has been a real bug bear of the last few  years and this is the highest reading since July. This is also further indicative of a better than expected Q4 which some had predicted could lead to a contraction for the UK.

Greece is also firmly back in the headlines and if a strengthening pound does not worry those selling Euros, Greece certainly should. With more bailout funds due for release and ever thinning patience from Berlin, we could see yet more Euro weakness too. If you are considering any transfers selling Euros I would recommend moving sooner to avoid disappointment. We were recently at a 6 month high for the Euro against the pound and it now appears the tide is turning once again.

For a full no obligation discussion of securing your currency deals at the very best exchange rate please feel free to make contact with one of us on the blog. We will always go that extra mile to make sure you get the very best rate much better than the banks and other sources. My name is Jonny and you can reach me directly on 01494 787 478 or email your questions to jmw@currencies.co.uk