Sterling Euro rates close to 2 year high (Tom Holian)

Sterling Euro exchange rates have held steady this week with rates just shy of a 2 year high reached immediately after the Scottish referendum on early Friday morning.

Focus will now move back towards the UK and considerations as to when the Bank of England may look to increase interest rates. BoE governor Mark Carney has recently hinted that interest rates are likely to go up in Spring 2015.

With the US deciding to end their current tapering plan in October we could see the Dollar strengthen leading to Euro weakness. Therefore, we could even see Sterling improve against the single currency towards the end of October if the tapering finishes.

Yesterday we saw a brief respite for the Euro with German PMI services data slightly better than expected but with French & German consumer confidence due on early Friday morning we could see another good opportunity for Euro buyers.

If you would like to be kept up to date with exchange rate movements and if you have a currency transfer to make and want to save money on exchange rates compared to using your bank then  contact me directly for a free quote Tom Holian teh@currencies.co.uk