We are eagerly awaiting two key interest rate decisions today from the UK and the Euro zone. This is one of the key releases for any economy and can cause some volatility for the currency in question at the time of the release. The UK decision will more than likely be a non event with no change expected and in the Euro zone the worry of deflation is causing a headache for the central bank as they do not have scope to raise interest rates at the current time.
The press conference will give us a good indication of what they are planning on doing to battle this disinflation in Europe. Many Analysts are split on what will happen so we will have to wait and see. If there is a surprise interest rate cut then expect GBP/EUR to start to strengthen very quickly.
At the time of writing the BoE have just held interest rates and did not weaken their monetary stimulus. GBP/EUR is hovering around 1.2060 so no real major movements. The big one is in 45 minutes and we are waiting to hear what the ECB will release.
If you need to buy or sell the Euro then feel free to contact me as we can help you time your exchange and depending on your circumstances there are different options that are available.
If you are in the situation needing to move money internationally and looking for the best price – please feel free to contact the author – Ben Amrany – via the telephone number at the top of the page or via email at [email protected]