The Pound although having lost ground this morning, is back in the 1.35s. The UK released poor inflation data (as expected), and at the time of the data release the Pound had slipped in to the 1.34s. The UK Inflation level released was the lowest since records began, so proved that the Sterling strength is not on totally solid footings!
Looking at GBP EUR specifically, I think that up to 3 Cents of the current rate is uncertainty built in by the potential Greek bailout. As there is a good chance that Greece will be bailed out (possibly even before Friday), I would be looking to take advantage whilst the rates are so high!
1.35 and above are seven year highs, so in my opinion not worth Euro Buyers missing out on! Those selling Euros may want to get themselves ready for a potential shift down in the GBP EUR rate next week, following the potential bailout…
If you have a currency exchange requirement, please feel free to get in touch on 01494 787 478 ( please ask for Andrew Bromley on the Euro Desk). Alternative email me – AJB@currencies.co.uk