Consumer Price Index figures came in this morning for the Eurozone and they caused little movement for GBP/EUR. They came in as anticipated still worryingly low bordering at the point of deflation. Mario Draghi has already indicated that he is willing to increase Quantitative Easing (QE) in order to stimulate growth and lengthen the amount of time it is in place. This will only push his hand further. This will not create ant great shakes however as this has already been factored into the market.
If I was a Euro buyer I would be seriously tempted to move sooner rather than later, GBP/EUR is still very close to the 8yr high of 1.4407 and I think hanging on for a few extra Euros could prove costly. Lets not forget that Sterling has plummeted against the majority of major currency pairings this week.
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