Sterling continued its climb this week reaching fresh highs not seen since the beginning of the year, giving people with euros to buy that missed the opportunity 3 weeks ago another change. This came from more promising UK data with house prices climbing and manufacturing data on the up. This week data to watch includes European GDP figures tomorrow and interest rate decisions by the central banks both side of the channel on Thursday. Both have the potential to move rates significantly if there is any surprises. I personally don’t expect any policy change due to it being December, central banks have been against change historically this month due to the shut down over the festive period.
My view is that the trend does seem to be in the favour of Euro buyers, or in fact anyone selling the Pound current so rates may improve. However we also have to equally respect the high that we are at now. Depending on the amount you are moving and the timeframe you have remember that you don’t have to trade all at one point in time. I would be looking to limit my exposure by trading a proposition at the moment to take advantage of these high.
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