News from the Eurozone was not good this morning with the release of Germany’s import price index and an Italian confidence consumer survey for August.
With both data sets lower than expectations this has put pressure on the Euro during this morning’s trading session. Even though yesterday’s service sector data in the UK was low this was not reflected in exchange rates which suggests to me that investors are waiting to see what happens with the French government over the next few days.
Earlier this week French President Francois Hollande has decided to dissolve government after a public row within his own cabinet over how to manage the French economy. As the second largest economy in the Eurozone this could cause problems for the Euro if this continues.
If you are concerned about how GBPEUR rates may move over the next few days and would like a free quote when buying or selling Euros then contact me directly and I’m confident I can save you money compared to using your bank. Tom Holian [email protected]