The Pound has made minor gains once again against the Euro in trading this morning hitting a new one month high.
We saw much better than expected manufacturing PMI figures for the U.K early this morning which followed on from yesterdays positive economic data which may suggest a good month could be ahead regarding news for the U.K economy.
Tomorrow we have another set of industrial and manufacturing data out for the U.K and if it follows suit with the news we have had so far this week then Sterling could be set to be heading towards the coveted 1.20 mark.
The one key bit of data that may push the Pound back is the Bank of England interest rate decision due out at 12:00pm on Thursday which is promptly followed up by the ECB (European Central Bank) interest rate decision at 12:45pm. possibly the most important part for the EBC will be the press conference with head of the ECB Mario Draghi at 13:30pm on Thursday. Investors will no doubt be hanging off of his every word and any hint at further rate cuts may lead to an extremely volatile afternoon for the Euro.
If you have a pending currency transaction to carry out and you want to achieve the very best rate of exchange for your transfer then it may be prudent to get in touch with me and I can help you directly.
You can email me on [email protected] with a brief description of your exact requirements and a contact number and I will be more than happy to get straight in touch.