The pound has had a relatively very quiet days trading against the Euro with a small high to low movement of around 0.25% The rate is hovering around 1.21 at the moment and sterling is slightly down from the high of the year of 1.2240. With rates still above 1.20 it is still a fairly attractive time to be looking at buying your Euros.
The recent news that inflation in the UK is still falling and that unemployment deteriorated last week it has put pressure on the pound due to giving the Bank of England more time to have to raise interest rates up. With nothing of note out today this is why not much has happened with this currency pair.
The rest of the week should be fairly busy though:
German GDP figures tomorrow at 07:00 – expected to show an improvement month on month shifting from 0.3% to 0.4% something that could lead to Euro strength tomorrow morning.
UK GDP figures Wednesday at 09:30 – forecast to show a fall month on month from 0.8% to 0.7%. May have been priced into the market already but I would still expect the pound to fall should the figures be as expected.
Euro Zone consumer confidence figures Thursday at 10:00 – expected to stay the same.
Euro Zone Industrial confidence figures Thursday at 10:00 – expected to post a small fall putting pressure on the Euro.
If you are requiring to buy or sell then Euro in the future then please feel free to contact myself and I can explain how you can achieve a better rate of exchange than the banks while having a personal service to help you judge when you should secure your funds.
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]