GBP/EUR Rates Remain Volatile Ahead of Scottish Referendum (Matthew Vassallo)

GBP EUR Exchange Rate: Weekly Review July 16  

GBP/EUR rates have remained volatile during Wednesday’s trading, following heavy losses for the Pound yesterday. With a recent poll indicating that support for Scottish independence had grown to 51% the markets immediately went into panic mode, with the Pound dropping by over a cent during Tuesday’s trading.

We have seen a slight recovery today following comments by Bank England Governor (BoE) Mark Carney who indicated we could see a UK interest rate hike as early as next Spring, which seems to have steadied the ship, with GBP/EUR rates moving back towards 1.25 on the exchange. It is likely the recent volatility will continue up until the Scottish referendum on September 18th.

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 on [email protected]