With the Bank of England Minutes due out in less than half an hour we could see some volatility in the lead up to the announcement. Last month’s vote showed a 9-0 vote against both a movement in interest rates and also a change to Quantitative Easing. I would be surprised if there’s any difference to last month so I expect to see a small bout of confidence for Sterling shortly after the announcement.
At 10am this morning the Eurozone publishes Quarter 2 GDP for both month on month and year on year. I expect this to take a slight fall so expect to see Sterling gain towards the higher end of 1.16 through late morning trade.
The UK has published a large amount of positive data as of late so I am surprised to see Sterling remain relatively low against the Euro and feel like it is only a matter of time before we see Sterling strengthen across the board particularly against the Euro.
If you’re thinking about making a currency transfer and want to save money compared to using your bank feel free to contact me directly Tom Holian [email protected]