What Next for GBP/EUR Exchange Rates?

GBP/EUR rates have dropped over the past couple of days, following a mixed bag of economic data for the UK. The Pound’s momentum was halted on Monday following poor PMI data and it has not yet recovered its position against the EUR. In fact this morning it looked as if the EUR may breach 1.20 for the first time in months but as yet Sterling has found support just above this threshold.

Despite some mixed data for the Eurozone also, it is GBP that seems to have taken the hit on the exchange. Due to the fact Eurozone groeth prospects are improving and unemployment is falling, it may be that we are seeing the end of GBP’s recent run and as such it may prudent to consider your postion around the current levels.

If you have an upcoming GBP/EUR currency requirement and would like to be kept up to date with all the latst market movements, or simply wish to compare our exchange rates with your currnet provider, then please feel free to contact me directly at [email protected]. Alternatively you can contact one of our experienced brokers on 0044 1494 787 478.