GBP/EUR Rates Close to a 16 Month High (Matthew Vassallo)

Pound to Dollar Rate Drops to One-month Low

As we end the trading week GBP/EUR levels sit close to a 16 month high and continue to offer very attractive buying opportunities. The EUR has struggled to make any inroads into Sterling this week and this trend looks set to continue in the short-term, as the Eurozone struggles against inflation concerns and low growth forecasts. UK GDP figures were the key data release of the week and reaffirmed the positive sentiment surrounding the UK economic recovery.

Whilst GBP does seem to be gaining momentum against its EUR counterpart do not expect this trend to continue indefinitely and as history has shown us market conditions can change quickly and aggressively.

If you have an upcoming currency requirement and would like to be kept up to date with all the latest market movements, or simply wish to compare our award winning exchange rates with your current provider, then please feel free to contact me directly at [email protected].