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.
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