Bank of England Meeting and Impact on Pound Sterling vs Euro (Tom Holian)

Pound to Dollar Forecast: GBPUSD Continues Upward Trend but for How Long?

The Bank of England meeting takes places tomorrow afternoon and in the first time in history the BoE will also announce their minutes at the same time.

This could potentially make room for a very volatile day for Sterling vs Euro as the Quarterly Inflation Report is also released tomorrow afternoon.

With the Pound trading very close to an 8 year high today to buy Euros we could be in line for further improvements tomorrow if the results are good.

Figures from last week showed that the US GDP grew at an annualised pace of 2.3% in the three months to June which has caused the Dollar to strengthen and weaken the Euro providing some excellent buying opportunities.

Arguably the most important time tomorrow will be BoE governor’s Mark Carney speech which will include his views on UK monetary policy and the reasons for the Bank making their decision on policy.

I personally expect to see the Pound gain vs the Euro during tomorrow’s trading session hitting an 8 year high to buy Euros.

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