Andy Haldane’s comments knock Stirling back

GBP EUR Exchange Rate: The Week Ahead June 12th

GBP/EUR took a knock after Sterling’s resurgence today. I think there is a strong possibilty this may have been caused by the BOE’s (Bank of England) Andy Haldane. He  suggested theMPC (Monetary Policy Commitee) still has options including QE and rate cuts and that risks to inflation in UK and overseas may be skewed to the downside.

He also stated  he does not see an immediate case to change interest rates and chances of a rate cut or rise are evenly balanced. He indictaed thatpolicy needs to stand ready to to move in either direction to achieve 2% inflation target.

I still feel it is a very good time to purchase Euros as we sit close to that 7yr high, I feel Sterling weakness is highly likely in the coming weeks.

Thank you for reading today’s Blog, I would greatly appreciate any feedback you have and would take pleasure in replying personally. I am more than than happy to assist you with any of your currency requirements. Feel free to e-mail me at [email protected] or call on 01494 787 478 and ask for Daniel Johnson.