Positive retail sales figures for the UK and Mario Draghi indicating he will prolong QE and increase the amount of funds he is willing to pump into the Eurozone has caused GBP/EUR to break 1.39.
If I was buying Euros I would be tempted to move quickly, GDP figures for the UK are due out tomorrow at 9.30am. I expect there could be a slight drop and Sterling could take a hit. Keep an eye out for Germany’s CPI data on Thursday. Germany is the engine room for the Eurozone and any unexpected movements could cause volatility on GBP/EUR.
If we hit 1.40, expect GBP/EUR to hit resistance as the profit taking takes hold. 1.39 is definitely not to be sniffed at.
I have consistent GBP-EUR trades going through that potentially I could tag new clients on to and achieve a very competitive rate. Please do get in touch if I can be of assistance. I will guarantee to beat any bank or brokerage’s exchange rates.
I am offering a free rate alert service, just give me a ring or e-mail with your currency requirements including your time scale and the levels you are hoping to obtain and I will notify you of any significant movement.
Thank you for reading today’s Blog, I would really appreciate any feedback you have and would take pleasure in replying personally. I am more than than happy to assist you with any of your currency requirements. Feel free to e-mail me on [email protected] or call on 01494 787 478 and ask for Daniel Johnson.