GBPEUR reach fresh 9 month high – buying euros -selling euros – STEVE EAKINS

Pound to Euro Drops as Virus Drama Returns to London

Euro rates have continued to improve today as the trend of Sterling strength continues.  This morning the Bank of England release their interest rate minutes from 2 weeks ago, this showed a clear 9-0 vote for no change but also showed an intent to increase growth forecasts for the last quarter this year. This created Sterling strength and pushed the price to fresh 9 months high, representing a great time to buy the single currency.

Tomorrow UK Retails figures are released and expected to show yet another gain and improvement for the UK economy so could help push the rates higher still. I personally think it could give us the best price we see for the next week as Friday we have UK Public Sector Net Borrowing which is expected to show that even with the improving picture for the UK the government has borrowed more again.

The next day next week is Thursday when the UK GDP figures are released this could be revised up following the good data from the UK this month and the comments from the BOE today.  It all seems very promising at the moment for Sterling sellers. Euro sellers however are getting more and more worried as the rates continue to move against you.  This trend I think will continue but there will be SPIKES for you.

Here we offer a pro-active service helping our clients trade at the best time and achieve the best price.  So if you are trading any of the major currencies and reading this blog with interest please make contact to see how we could help you in your personal situation.  Email [email protected] for our up to date forecasts and prices so you can see how much you could save.

Thank you,

Steve Eakins