GBP/EUR Rates Fall Following UK PMI Data (Matthew Vassallo)

The Pound Continues Its Fightback

It’s been a quiet morning for GBP/EUR rates, with little movement on the exchange. Sterling started to recover market position yesterday, following losses towards the end of last week. This morning UK PMI data is unlikely to help the Pound move any higher against the single currency, as levels came in below expectations and this could cause Sterling weakness in the short-term. Personally I do still feel the current levels are offering very good buying opportunities for those holding GBP and as we move through the year, I still feel the EUR has far more scope to improve, when consider recent historical patterns.

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