Today has seen Sterling push through the 1.19 marker again, on the back of both yesterdays Unemployed improvement, and Mark Carneys impressive speech indicating house price control.
Those buying Euros will be well aware that current levels above 1.18 have been incredibly sought after, as August saw Interbank levels in the low 1.14s. The impressive increase is linked to the constant supply of positive UK data, most recently UK Manufacturing and Production data, which has long since been the UKs downfall.
Looking forwards, I believe that GBP-EUR will correct back to the 1.16 – 1.17 range, as Mark Carney is keen to stop GBP getting too strong and essentially overpricing British exports.
If you are looking to BUY Euros, I would be tempted to get something booked sooner rather than later, and take advantage of the current buying levels.
Those selling Euros may be wise to wait for Mark Carney to ‘talk the Pound down’.
Should you have a transaction to book, please feel free to drop me a line to discuss. Not only can we help to time your transaction to your advantage, I am confident to beat any competitor price!!
01494 787 478