Today is a key day for both the UK and Europe as both Central banks release their interest rate decisions. The general view is that the UK will keep rates on hold at the record low of 0.5% where it has been since march 2009. The view however is that the Europeans could signal a potential cut in their rates in the near future. This would significantly weaken the single currency if confirmed and could easily push rates up towards 1.20 again.
I personally think that there will not be a cut but there will probably be much talk about it coming in the near future which will still weaken the euro and potentially give buyers the best price seen for some time. We are already near a year high so everyone with Euros to buy should be ready to move quickly on this release.
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For more information feel free to contact the author – STEVE EAKINS – via email at firstname.lastname@example.org or by calling on the number at the top of this page.