Sterling Euro 1.21 (Tom Holian)

GBP EUR Exchange Rate: Weekly Review July 16  

Yesterday’s UK retail sales saw the British economy picking up boosted by consumers spending money in the high street which helped the Pound gain against the Euro. Even with the UK GDP forecast being revised down to 1.7% from 1.8% which was the previous estimate the Pound has remained strong against the single currency.

Since the turn of the year businesses have seen good growth with the manufacturing sector seeing growth of 0.5% during the last quarter and with the recent UK Budget things appear to be looking rather positive for the Pound.

The British Chambers of Commerce has said that the data from the Office for National Statistics ‘supports our view that the UK recovery remains on course.’ There is in my opinion a long way to go for the UK still in terms of full on pre 2008 levels but in my mind the Pound seems a better bet at least for the meantime than holding Euros.

This is why we have seen Sterling recover against the Euro and create the best buying opportunities for the last month.

In order to save money when buying Euros then contact me directly Tom Holian [email protected]