Sterling Euro will probably recover towards the end of this week (Jonathan Watson)

GBP EUR Slumps with Lower GDP Print

The pound to Euro rate has slowly ebbed higher today as expectations of the UK recovery staying ahead of Europe continue. Some comments by George Osborne the Chancellor that Europe needs to address problems to become more competitive may also have helped the mood.

My post here on our sister site explains the main driver on sterling right now and I expect this will continue to be a feature of GBPEUR throughout 2014.

Friday we have UK Retail Sales figures which I expect to be positive for the pound. On the whole retailers discounted early (some even before the 25th) to make up for slower trading and despite some supermarkets being down I expect the overall picture for Retail to be a positive one. If you are looking to sell Euros to buy sterling then moving before Friday could be wise particularly since the overall trend is GBP positive, Euro negative at present.

If you are considering any upcoming currency exchange and would like more information on the markets and much better exchange rates please feel free to contact me on [email protected] or call (+44) 01494 787 478 and ask to speak with me Jonathan.