GBP/EUR rates have spiked again this week, moving the currency pair up to a two year high. This spike was initiated following better than expected UK inflation data earlier this week, which helped push GBP/EUR back through 1.26 on the exchange.
Many clients will now be hoping for further gains and whilst it is impossible to predict exactly which direction GBP/EUR will take, I do not anticipate any major Sterling losses in the short-term. Any move up towards 1.30 is likely to be tempered by the Bank of England’s (BoE) desire to control the Pound’s value on fear of driving our export prices up and alienating the Eurozone economy even further.
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]