We expect the pound will rise tomorrow on the back of good GDP (Gross Domestic Product) from the UK. The UK economy has looked really good all year and despite UK interest rate expectations being pushed back because of China, the outlook is still positive. I mena if you were an investor choosing where to pout your money which currency would you rather be holding, the GBP or the Euro?
Most analysts are preferring the pound because there is more likelihood the UK will raise interest rates and this will help the pound to rise longer term. The Euro is potentially going to weaken further because of Greece and the like, I would really not suggest holding onto Euros just expecting rates to improve out of nowhere. The forecast is for further Euro weakness longer, if you need to buy or sell Euros please email [email protected]