UK PMI construction figures was released this morning and has come in slightly worse than expected, it has however done little to budge GBP/EUR from 1.40. The UK Interest Rate Decision and MPC vote is due on the recently dubbed “Super Thursday”, personally I expect it to be a non event causing little volatility on the markets.
If I were buying Euros I would be looking to move at current levels for two reasons:
1-Sterling’s strength is hindering our export trade and Mark Carney has indicated he is willing to take action to weaken the currency. Our GDP figures have already showed some decline.
2-The UK economy recently entered deflation for only the second time in the last 60yrs.
I think for these reasons procrastination could prove costly, we are currently sitting at one of the highest rates for the last 8yrs, they are not to be sniffed at.
There are currently consistent GBP-EUR trades going through which I can tag new clients on to and achieve a very competitive rate. Please do get in touch if this is something of interest. I will guarantee to beat any bank or brokerage’s exchange rates.
Thank you for reading today’s Blog, I greatly appreciate any feedback you may have and would take pleasure in replying to you personally. I am more than happy to assist you with your currency requirement. Feel free to e-mail me on [email protected] or call