Thursday could be critical to the GBPEUR rate

Pound to Euro Drops as Virus Drama Returns to London

The busiest day this week could easily be on Thursday with the Bank of England and European Central Bank decisions, what can we expect of these? So far this week we have already had a lot of movement owing to the uncertainty presented to the market from the Scottish Referendum. Just how will they vote? Well there appears to be growing indications they will vote for independence with the spread between those voting yes and no narrowing from 22 points to 6 points since the start of August! A Yes vote would surely create major headaches on financial markets and I am sure investors would be concerned about the pound. Think of the knock on effects too, will the Bank of England be able to consider raising interest rates? Surely not and this will weigh heavily on the pound… For more information and the latest market insight and knowledge please speak to me Jonathan on [email protected]