The GBP/EUR rate has given cause for celebration as for the first time in a considerable time Sterling has rallied at the end of the week. At the time of writing the rate has rallied to 1.0970 sitting just below the psychological 1.10 barrier. After a rocky day yesterday following the speech from European Central Bank President Mario Draghi, the rate has moved back up over a cent from the lows of yesterday.
This morning UK Inflation expectations were reported that there will be a 0.2% increase to 2.8% which still provides hope that if inflation does rise there could be an interest rate hike at the start of 2018. After a fall in inflation a few months back it become clear that a rate hike wasn’t going to happen, however there could be optimism of this once again.
Next week could now see the GBP/EUR rate move above the 1.10 level as soon as Tuesday morning when the latest inflation data is released. If you’re looking to purchase a currency with Sterling you could be able to trade at a multi week high. There will be also be Average Earnings data which is expected to show an improvement for the year on year figure of 0.2%, taking Average Earnings up to 2.3% growth.
In my honest opinion the Sterling boost could be set to continue providing a rare window of opportunity, I would be happy to help you set alerts to make sure you’re trading at your target rates. Please call Ben Fletcher on 01494 725353 to find out more.
If you do have a upcoming currency requirement and would like to discuss what might be the best option, please send me an email to Ben at [email protected]. The currency markets are always moving and timing a transfer can help make sure you achieve the most for your funds. Working at a brokerage I am able to help you achieve the best rates of exchange and set alerts to make sure you capitalise on any movements on your favour.