US Interest Rate Rumours help Sterling vs Euro Exchange Rates (Tom Holian)

GBP EUR Exchange Rate: Weekly Review July 16  

Sterling Euro exchange rates have touched 1.41 on the Interbank level during today’s trading session as rumours are increasing by the day that the US are getting ready to increase interest rates in December.

US jobs data last Friday saw a huge jump with 271,000 new jobs created in the world’s leading economy.

With the US Federal Reserve having stated on a number of occasions since early this year that a rate rise is data dependent this good news is now making a rate rise next month very likely.

This has strengthened the Dollar which often results in Euro weakness creating some excellent opportunities to buy Euros since Friday afternoon.

With UK unemployment data due out in the morning if the data is better than expected then we could see GBPEUR rates tip past 1.42 during tomorrow’s session.

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 [email protected]