Best Rates of Exchange – Andrew Bromley

Pound to Euro Rate: GBP Falls on Virus Fears and Manufacturing Data as EUR Rallies

As the UK prepares for the final bank holiday of ‘summer’, how will the Euro move next week?

The revised UK GDP figures were released this morning, the headline being a 0.1% growth. We initially saw Sterling strength which helped the GBP-EUR rate to the current day high of 1.1707.

Next week the key data is German Unemployment rate and Consumer Price index. As this week has seen strong German data I believe that we may see a bit of Euro strength as the week progresses. I believe that a move just below 1.16 is not off the cards.

That being said, Euro buyers may be wise to get their transaction booked sooner rather than later, to avoid the risk of loss.

Have a great bank holiday weekend!

Andrew Bromley

01494 787 478

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