It has been rumoured that a UK interest rate rise could be pushed back to June or July. For those that are not aware, a hike in interest rates is generally seen as positive for the currency concerned and a cut in rates is generally negative, with the markets moving on speculation as well as fact this potentially is why we have seen this move in anticipation of the delayed rise. This could be a reason for the decrease in GBP/EUR. There is also the possibility of profit taking. Individuals ” cashing out ” after the highs from the Scottish referendum.
Do bear in mind however the GBP/EUR is still very inviting, close to a two and a half year high.
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 – Daniel Johnson. [email protected]