Sterling Improves against the Euro (Tom Holian)

Sterling Euro exchange rates hit 1.21+ today following comments made by ECB President Mario Draghi over the weekend that the ECB may consider Quantitative Easing if infltion continues to remain low.

The problem this could have on exchange rates is that it is likely to weaken the Euro if QE takes place as had happened on previous occasions. With GBPEUR rates close to a 2 month high last week it could now be a good time to sell Euros if you’ve been hanging on waiting.

Draghi went on to say that a strong Euro which has risen by 5% against the Dollar in the last 12 months accounted for half a percent fall in inflation and although ‘the exchange rate is not a policy target it is important for price stability.

If you have a currency transfer to make and want to save money then contact me directly Tom Holian [email protected]