What can we expect for the rest of the week on the GBPEUR exchange rate?

GBP EUR Drops After GDP Misses BoE’s 5% Target

Tomorrow is a vital day for the pound to Euro exchange rate as we get closer to understanding a bit more news form the Bank of England. Expectations are for a very busy day for the pound as markets digest exactly what we can expect from the outcome. There is a belief in some quarters the pound could rise rise but ultimately the recent fall in Inflation I feel makes any positive news for sterling much less likely. The rates could move quickly in either direction therefore making being able to react quickly very important to securing the best rates.

To help clients looking to buy or sell the pound we can monitor the rates very closely to try to gauge just when might be the best time to make the deal. There is an overall belief longer term the UK are more likely to raise interest rates, tomorrow we will get the latest taste of this from the Bank of England. If you have an exchange to make in the future this information is vital to helping you get the best deal.

Not only is it the UK’s interest rate decision it is also the latest Quarterly Inflation report and this will present the market with fresh news on the most likely future direction for UK interest rates and therefore the pound. If you need to make an exchange this news will set the tone for the coming weeks so it might be worthwhile getting in touch if you are looking for any information to help you make an informed decision on when to execute the deal.

Thank you for reading and please let me know if there is anything happening I might be able to help with or you wish to discuss. Please contact me Jonathan Watson by emailing [email protected] to learn more.