Fall in UK Unemployment causes GBP/EUR to Spike well into the 1.35’s (Daniel Johnson)

GBP EUR Rallies After ECB Reduces Pandemic Support

Unemployment has dropped to 1.86 million, a reduction of 97’000 in the three months up to December. This coupled with a rise of average earnings has caused GBP/EUR to settle in the high 1.35’s.

The ONS (Office of National Statistics) has stated average earnings including bonuses have risen 2.1% in the quarter when compared with this period last year. This is something the general public can really feel in their pockets with the current reduction in oil prices and the super aarket price war which has caused a drop in food pricing. Rates at their current level represent a very favourable time for Euro buyers, to purchase while in the 1.35’s is not to be sniffed at. I am confident a renegotiation or extension for Greece’s debt will be reached on Friday in which cause the Euro will bounce back. I think waiting for further Sterling strength could be a wrong move, to procrastinate could be your downfall.

If you wish to call me to discuss your currency requirements please do get in touch by calling me on 01494 787478 and ask for Daniel Johnson, alternatively drop me an e-mail on [email protected] .