Todays trading has as expected, opened above 1.16. As Sterling gained a lot of support on Thursday from Mark Carney at the Bank of England, I would expect trading to be ‘range bound’ for the next week between 1.1560 and 1.1650. This is a very tight range however it is an indication of the stability that Carney hopes to bring to GBP.
Next week sees primarily the UK minutes from the Inerest Rate Decision. Should you be looking to SELL Euros, I would be tempted to consider your position before the minutes are released (09:30 Wednesday). As mentioned Carney has strengthened the Pound of late and I would be inclined to say that the minutes will reinforce this.
Please feel free to drop me a line if you have a Euro requirement, be it buying or selling.
01494 787 478