GBPEUR rates have recovered slightly today climbing by nearly a cent. This is only a small recovery compared to the 4 cents drop seen over the last 14 days but should certainly not be overlooked. The reason for the climb is worse than expected data from Germany and EU plus better than expected figures coming out of the UK for Retail figures. The reason why people should see this as good news is because generally I expect to see rates fall further rather than climb up towards the end of the year. There seems to be a real political play taking place in the UK at the moment as Labour starts their campaign. third strongest argument seems to be economically so they are expected to tarnish the views on the UK weakening the Pound as their campaign takes shape. “Stay with us we have a plan, don’t vote another party in.” This will probably be seen in a matter of weeks when the next UK budget is given in early December and should certainly be something you should be aware of and have a plan for.
If you want more information or want to discuss the above along with forecasts please let me know.
All the best,