Sterling Breaks through 1.20 (Tom Holian)

Sterling has recovered from its recent losses against the Euro breaking through 1.20 again today. It took quite some time to break through 1.20 but this afternoon we have seen rates hit 1.2017 at their peak.

UK Retail Sales for February are due out tomorrow and it will be interesting to see if the weather has had a negative effect on the data which is expected to show 2.5% compared to 12 months ago.

With the UK so heavily reliant on this data we could see some volatility for GBPEUR exchange rates during tomorrow morning’s trading session.

Once huge data release will be US GDP for Q4 as if the data is strong we could see Dollar strength resulting in Euro weakness which could see GBPEUR rates break higher.

If you want to take advantage of these rates then contact me directly for a free quote Tom Holian [email protected]