Pound euro rates spike higher!

GBPCHF Exchange Rates Reach Highest Levels Since Mid-March

Well as quickly as they dropped pound to euro rates have risen higher against much expectation! This just show how nothing should be taken for granted on exchange rates and how quickly and unexpectedly things can change.

Expectations had been for further GBP weakness but it now looks like the pound has regained some favour due to some bad data in the Eurozone. This has caused EURUSD to move and also GBPEUR. We are now looking at much lower levels on the rates for euro sellers and it just proves what we have been warning about for so long. Nothing should be taken for granted on exchange rates!

It is possible the pound could weaken further if the first batch of UK data releases next week cause the pound to topple slightly. It is expected the US slowdown could have had a negative impact on Q4 for the US and this would have a negative impact on the rates.

For more information on everything driving your exchange rate please contact me Jonathan on [email protected]