The pound has found support, surely rates will only go higher now?

Euro Suffers Losses to a Strong US Dollar and a Resilient Pound Sterling

The better than expected economic data this month has really helped sterling to get a lift. The prospects for the pound to make further gains against the euro look quite high although it will take some knocked confidence for the strong euro.

This week there is not a huge amount to get excited about and this may be the perfect opportunity for sellers to enter the market. If you are holding euros and need to sell for GBP, moving sooner really is looking like a good idea.

The likelihood of more QE in the current economic environment is slim and it may be that sterling finds further strength once Mark Carney comes in due to improved confidence that the UK will tackle its debt problems.

Better Construction, Manufacturing and Employment data all pointing to underlying signs of growth in the UK economy. This not only removed the chance of more Qe, it also increases the chance of an interest rate hike next year which would really cause sterling to strengthen.

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