GBP EUR rates have fluctuated hugely today on two key news items.
Firstly the UK Inflation data released this morning showed a mixed bag of results, with May’s improvement being the key point focussed on. It is understood that a strong return form the transport industry has helped the recovery. The Bank of England had expected figures to move away from ‘Deflation’ before the end of the year, however this improvement is perhaps even better than hoped for.
Secondly (and more currently) the Greek bailout talks seem to have stuttered. EU member (and former Latvian Prime Minister) Valdis Dombrovskis has indicated that the European Union have been discussing ‘less favourable’ outcomes for the Greeks, causing an immediate increase in Euro weakness. At the time of print rates have spiked over 1.39, providing in my opinion excellent buying levels.
If you have an exchange rate requirement, please feel free to get in contact to discuss. Either email me [email protected] or call the trading floor directly on 01494 787 478. Please quote this blog to get put through to me!