GBPEUR rates set to fall further – trading at 2014 lows, great for euro holders – STEVE EAKINS

Euro Suffers Losses to a Strong US Dollar and a Resilient Pound Sterling

GBPEUR rates remain relatively unchanged this week so far however we have visited again this week the lowest levels seen through 2014.  There have been times the inter-bank level has been close to falling below 1.19 and I for one can see this level being breached later this week.  Earlier this week European Data continues its run of strength with business confidence in Germany at a 1 ½ year high and over manufacturing growing at the fastest pace seen for nearly 3 ½ years.  The UK is also releasing data which is making the Pound weaker, yesterday’s inflation data for example was at a multiyear low pushing back the timeframe that we could see an interest rate climb coming from the Bank of England.

Tomorrow we have UK Retail figures and on Friday UK GDP figures, both are expected to show negative or natural figures meaning there is a real risk we could see GBPEUR levels fall further.  It was only a few weeks ago that we saw the trading level at a 13 month high but since then GBPEUR levels have fallen nearly continually and now site nearly 2.5% lower.  If you are a GBPEUR trader and need to buy euros then it would certainly be worth reviewing your strategy. Here with Limit Orders and Rate Alerts there are options to limit your exposure, all designed to help you make a more educated decision and achieve the highest prices.  Both are free to our clients here and we offer to readers to this blog at no charge – simply contact myself to register your interest via my email at [email protected] or by the normal telephone number +0044 (0) 1494 787 478