Will the Euro Strengthen against Sterling this week? (Tom Holian)

GBP EUR Slumps Despite Higher UK Employment

The Euro has had mixed fortunes last week with the ECB announcing an interest rate cut to just 0.05% and charging banks 0.2% to keep their money on deposit. Typically this would see a huge weakening effect on the currency involved, in this case the Euro. However, owing to the uncertainty about the Scottish referendum vote due to take place on September 18th this could see Sterling experiencing a very difficult and volatile fortnight against the Euro.

Global investors do not like uncertainty and with a poll last week showing close to 50/50 Sterling is wobbling at the moment.

Bank of England governor Mark Carney is due to speak next week and I think he will again avoid any questions relating to UK interest rates which could see Sterling weaken.

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 [email protected]