Sterling Euro close to a 2 year high (Tom Holian)

Brexit vote

Sterling Euro exchange rates have been trading above 1.25 for most of this week following on some very strong comments from Bank of England governor Mark Carney last week.

The International Monetary Fund has also said that the Eurozone recovery is not strong enough. With inflation remaining low and the Eurozone having cut interest rates earlier this month this has weakened the single currency against Sterling providing some excellent buying opportunities for those needing to buy Euros.

The recovery in Europe is likely to be slow and painful and this is what is keeping the Euro weak at the moment. The most recent figure for Eurozone inflation was at 0.5% which if it falls again this is likely to have a negative impact on growth.

Eurozone consumer confidence came in at -7.4 compared to the forecast of -6.4 so this has also weakened the Euro against Sterling.

If you would like to take advantage of these current highs on exchange rates compared  to using your bank then contact me directly for a free quote Tom Holian [email protected]