GBPEUR rates should rise tomorrow as the Unemployment data for the UK shows a small fall. This should lead to sterling strength which will push the GBPEUR rate higher, possibly back over 1.19.
The pound has been benefitting from trader’s speculating that the UK will be raising rates ahead of the forecasted 2016 by the Bank of England. I personally expect the rate to push higher up to say 1.20 in the coming week or so before dropping back to around 1.17 following the German elections.
UK economic data has been very good lately but surely this will not just continue? And events in europe are bound to come into focus again but for the time being I expect a wave of confidence to sweep the eurozone and increase the price of euros.
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