Sterling Euro hits 1.28 (Tom Holian)

GBP EUR Drops After GDP Misses BoE’s 5% Target

Sterling Euro exchange rates have tipped past 1.28 during today’s trading session following some very good news from the UK manufacturing sector.

UK manufacturing activity grew at its fastest pace for the last 3 months as the figure rose to 53.2 in October from 51.5 in September. Anything above 50 represents growth and clearly this was good news for Sterling.

Indeed, with the inflation on the continent measuring very low recently this could force the ECB to look at changing monetary policy at their next meeting due to be held this Thursday.

The number of jobs created has increased in the sector which has increased confidence and this has been reflected in exchange rates today.

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]