GBPEUR rates fall!

The Pound Continues Its Fightback

Much lower than expected Manufacturing PMI today has knocked confidence for the pound and raised some fresh fears of just how solid the UK’s economic recovery is. I would expect the pound will remain reasonably well supported by the scope for further losses appears fairly certain. The market has been pricing in excellent UK data and the rates have so far been looking very favourable for anyone selling GBP to buy a foreign currency.

The Euro has also fared well as US data slightly disappointed and the USD was sold off causing USD flows to be sent to the Euro. For more information please contact me Jonathan on [email protected]