GBPEUR 1.30, can it happen?

The outlook for the exchange rates on GBPEUR look very favourable and I would certainly not rule out a move to the 1.30 by the end of the year. For this to happen however we will need to see the pound strengthen and continued pressure remain on the Euro.

If you need to buy or sell euros this week with sterling, important UK data is released again tomorrow and Wednesday at 09.30. This will help shed some light on whether or not we can explain the pound continue to perform well for the rest of the month. The forecast favours sterling because the UK is in a much better economic position than the Eurozone in terms of an economy that is growing and is looking to raise interest rates.

On the other hand in the Eurozone they have recently cut the interest rate which is likely to lead to more pressure in the future. It is difficult to see the Euro making major inroads into sterling with such strong easing measures having been taken last month.

If you need to buy or sell euros making careful plans is the key to get the most from the market. We also offer a much better exchange rate helping you to save money versus the banks. For more information at no cost or obligation please contact me Jonathan on jmw@currencies.co.uk