Sterling hits 1.24 as predicted (Tom Holian)

GBP EUR Exchange Rate: Weekly Review July 16  

If you’ve been following my recent posts you’ll see that I’ve predicted hitting levels of 1.24 for Sterling vs Euro following the release of some strong manufacturing and industrial production data out this morning.

Industrial output grew by 3% in April from a year before according to the ONS which was the fastest yearly rates since January 2011.

The interest rate cut from last week in the Eurozone helped to push Sterling in an upwards direction and with UK unemployment data due out in the morning we could see the Pound break past today’s 18 month highs.

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