GBPEUR rates have remaining on a knife edge today waiting for news from Europe and Greece. Levels are expected to remain like this for a while now until we hear back on a route forward for them. The market does not like uncertainty and with that euro weakens has been seen. Once we have certainty there is a large possibility that we will see the euro strengthen making it more expensive to buy once more.
Back in September we saw this happen the other way around, with Sterling weakness around the Scottish vote. Looking back on the graph there is an argument that it accounted for 4 cents.
We have CPI data tomorrow, Unemployment on Wednesday and Retail figures on Friday for the UK so all rather busy to on more conventional micro economic data which also drives the market.
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