GBP/EUR exchange rates have slightly risen as the week nears an end, following on from one of the least volatile weeks for Sterling exchange rates that we have seen in over two years, with GBP/EUR in particular being range bound between 1.1150 and 1.1270.
The end of week spike appears to have been caused by news following the ECB (European Central Bank) interest rate decision which came out yesterday.
Markets had expected a decision on signalling the end of QE (Quantitative Easing) in the April meeting, but it appear that now will be pushed back to June or July according to reports on Reuters.
QE is generally seen as a negative for a currency, so any news that may signal the tapering or end of the QE program from the ECB would more than likely be seen as a positive for the currency, and any lengthening of the program or delays in the tapering of it can lead to Euro weakness, as we have seen this afternoon.
The start of next week is reasonably quiet in terms of economic data for both the U.K and the Eurozone but that does not mean that the rates will not move, with on-going Brexit talks absolutely anything can happen at any time with this particular currency pairing, and if you are in the position where you may need to carry out a large exchange between the two currencies then you need to be prepared to move should an opportunity arise.
If you are generally busy a lot of the time and you do not have time to watch the market then a proactive and reliable broker should be able to do this for you, if you would like me to do exactly that then you are more than welcome to get in touch with me directly. Having worked in currency exchange for over a decade not only do I understand the importance of keeping clients up to date with market movements, but also how much difference timing a transaction correctly can make.
If you would like my assistance, feel free to email me (Daniel Wright) on [email protected] and I will be happy to get in touch with you directly.