Sterling has fallen during today’s trading session by over 1% against the Euro as the chances are decreasing of the European Central Bank adding to QE tomorrow.
It appears as though things will not change with policy tomorrow afternoon as Sterling has fallen across the board and all the European currencies have all made gains vs the Pound.
Prior to the ECB’s meeting we see the release of Eurozone Retail Sales as well as Services data and if these both come out strong we could see Sterling Euro exchange rates drop below 1.40.
My prediction is that if the ECB does not change the amount currently allocated we could see GBPEUR rates fall below 1.40 on the Interbank level.
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]