Pound euro rates – What will move them?

The big news this week is that the market will soon be receiving GDP for the UK for Q3. UK GDP has been a big driver on pound to euro rates this year and this latest news could respark some interest in sterling which whilst well supported has not been trading as strongly as a few weeks ago.

I expect the pound could rise by as much as a cent back over 1.19 by the end of the week if the data measures up… This is all against a backdrop of strange goings on in the US and the uncertainty to the market of just how the US will resolve their current stalemate.

All in all the next few weeks could be pivotal for GBPEUR. The average rate for the last 5 years is 1.17 (on the interbank price) so it is not a bad time to be moving money in to euros. For a full discussion of your position and all the news relating to your exchanges please make contact with us or email me directly on [email protected]