GBPEUR FORCAST – GBPEUR will continue to make large moves! GBPEUR has not really found its feet so far this year and I see no reason this won’t continue for the rest of this week and next with lots to move the market. Movements over 1% in a day have not been surprising and are bound to continue for the foreseeable future. Since the start of the year buying €200,000 has become £11614.40 more expensive. With the possibilities of triple dip recessions, the UK leaving the EU and confidence largely returning in Europe it is likely this current bad run for sterling is far from over!
Tomorrow we have the Bank of England Quarterly Inflation Report. Historically BoE Governor Mervyn King speaking is GBP negative and I would not be surprised to see the pound suffer this morning due to further negative news surrounding the UK economy. If you are considering any transfers involving the pound you can speak direct to the trading floor on 01494 787 478 or make a direct enquiry here.
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