Will UK GDP help Sterling improve against the Euro? (Tom Holian)

Pound to Euro Rate: GBP Falls on Virus Fears and Manufacturing Data as EUR Rallies

Sterling Euro exchange rates improved on Friday following comments from Bank of England governor Mark Carney who suggested the the next move for the BoE could be to raise interest rates.

This came in sharp contrast to comments made earlier in the week by the Bank’s chief economist Andy Haldane who suggested that interest rates may actually be cut to keep inflation under control.

In terms of when to buy Euros Tuesday could be the best day as the UK releases GDP data and the Eurozone announces inflation. 

The reason why I think Tuesday could provide an excellent opportunity to buy Euros is that the UK economy has been performing very well recently and this could be proved with the data on Tuesday morning.

A short time after the release is the announcement of Eurozone inflation. The main reason for the QE across the Eurozone is because falling inflation is such a problem. When QE finally began earlier this month the rate to buy Euros was the highest in 8 years.

If you have a currency transfer to make and want to save money on exchange rates compared to using your bank then contact me directly for a free quote. Tom Holian [email protected]