GBP/EUR rates spiked again this morning , with the Pound moving back through 1.38 at today’s high. It’s been another volatile few days for the pair and with key UK data releases tomorrow I expect this trend to continue.
Thursday sees the release of the latest Bank of England (BoE) interest rate decision and monetary policy statement, along with the central banks latest minutes. This is one of the most important announcements of the month and whilst we don’t anticipate the central banks to hike rates, any indication that members of the BoE have voted in favour of rate rise, is likely to be enough to boost Sterling’s value further.
With little economic data of note for the Eurozone for the rest of this week, it is likely tomorrow’s UK releases will carry even more weight so any clients with a GBP/EUR requirement should keep a close eye on the markets during Thursday’s trading.
If you have an upcoming currency requirement and would like to be kept up to date with all the latest market movements, or simply wish to compare our award winning exchange rates with your current provider, then please feel free to contact me directly on [email protected]