Mario Draghi’s speech a bust (Joshua Privett)

Pound to Euro Rate: GBP Falls on Virus Fears and Manufacturing Data as EUR Rallies

European Central Bank President Mario Draghi was supposed to give a highly anticipated speech last night. Instead, he spoke about art and culture.

‘Art is part of European history, of European heritage at its best. It also reminds us that values are not only monetary’ were the kind of catchy avoidance phrases he deployed.

With poor Eurozone inflation, many were expecting him to use one of his few public appearances to address these growing problems in the Eurozone economy.

Instead his focus was entirely elsewhere.

This dodging was enough to weaken the Euro to the border of 1.36.

Anyone with a Euro purchasing requirement may be disappointed that rates did not move higher, when it has done many times in the past when Draghi has spoken, but this is the first spike in your favour for more than a month and should not be sniffed at.

I strongly recommend that anyone with a Euro requirement should contact me on 01494 787 478 and ask the reception for Joshua for a free quote on your transfer, as well as tailored advice on your situation. [email protected]