GBP/EUR rates have remained very flat during Wednesday morning’s trading, following a volatile day for the currency pair yesterday. We did see the EUR start to strengthen against GBP in the build up to the release of yesterday’s Gross Domestic Product (GDP) figures, which indicated we may see weaker figures than expected.
As it happened the figures released, whilst positive, were in line with expectations and this helped push the Pound back up through 1.21 on the exchange. Personally I still feel the current levels provide some good buying opportunities and anyone expecting rates to continue on their upward trend should be aware the Bank of England (BoE) are becoming concerned that the Pound is gaining too much market value.
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