Sterling is still riding high following the 5 year low on unemployment published yesterday showing the jobless rate had dropped to 6.6%. The Euro has been under fire due to the ECB interest rate cut and I see little reason for the currency to strengthen back any time soon as the interest rate difference is only likely to get wider over time as the UK recovers. Mario Draghi has even suggested they will take further action if required.
Mark Carney the Governor of the Bank of England speaks tonight and may give some clues about future monetary policy in the UK so if there is any hint of an earlier interest rate rise the pound could go even higher, but if he damps things down then expect the rate to fall temporarily. If you are selling property in Europe I really think the Euro is in for a rough time as the year goes on so would recommend getting out of the single currency sooner rather than later. If you would like help with a currency transfer and to get the best exchange rate then email Colm at [email protected] and I would be happy to explain how our services work and the benefits to you.