Pound Euro levels have fallen steeply over the last 24 hours as yesterday’s inflation data released from the UK has an impact. In it the Bank of England cut growth and inflation figures which in turn puts the estimates for when interest rates will climb firmly into the back half of 2015. Probably upwards of another year away meaning great news for people with a mortgage but those all-important savers continue to get hit with record low interest levels that will not have changed for over 5 years. Looking forward tomorrows European data is the next key release, this is the GDP figures for Europe which is expected to show another contraction. As a result the fall in GBPEUR will probably be shorted lived, so if you are a euro seller I would very much be respecting the current levels and taking full advantage.
For more information contact Steve Eakins at [email protected]