Where Next for GBP/EUR Exchange Rates? (Matthew Vassallo)

GBP/EUR rates have dipped back below 1.28 on the exchange, following a volatile couple of weeks for the currency pair. The Pound had managed to rise to a fresh two year high earlier this week and at one point it did even seem as though Sterling may put pressure on 1.26, before the EUR found support and started to fight back.

It does seem as if Sterling recent run may now be tailing off and it is likely we saw an overcorrection following the Scottish referendum results and the market’s reaction to the European Central Bank (ECB) decision, to cut their base interest rate to a record low of 0.05%.

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