Today GBP/EUR rates saw a slight rise following the interest rate decision by the European Central Bank and subsequent press conference.
It was confirmed that the ECB would not be changing their current interest rate policy at 0%, which was no surprise. There would be no drastic change to policy with a Referendum in just three short weeks.
The subsequent press conference was where we heard indications that the Eurozone’s current problems with inflation wont be going away anytime soon.
Normally comments like this cause a strong reaction in the marketplace, yet with the potential Brexit this all seems like background noise.
Whilst the data releases will continue to come out their effect will likely be muted until markets have some idea about which direction the British economy will be moving in the next few weeks, let alone the coming 3-4 months which is how most normally measure even a short-term investment.
Polls will be key moving forward, and markets will be reacting more to these than to traditional data sets.
I strongly recommend that anyone with a Euro requirement should contact me on [email protected].
At this point it is best to play it by ear on your transfer, and I offer a very proactive service to keep my active customers informed on market movements and information pertinent to their transfers.
I can also offer a free quote on your exchange and I’ve never had an issue beating the rates of exchange offered elsewhere.