Today has seen Sterling make a solid footing against the Euro with exchange rates in the high 1.28s. These are the strongest rates we have seen since 2008. The main reason for this is the Eurozones problem with deflation which is therefore forcing the European Central Bank (ECB) to start quantitative easing (printing money and devaluing the currency). However some people are of the opinion QE could be a positive for the Eurozone as its a statement of intent to stimulate the economy and therefore boosting investors confidence.
If you are looking to do a trade before the end of the week, key economic data to look out for is on Friday at 10am when the EU release CPI figures.
Timing a trade at the volitile period is crucial, if you would like me to be your eyes and ears within the market feel free to email me on [email protected]