Sterling Euro Forecast Predicts Pound To Remain Weak
Sterling exchange rates are likely to remain very weak versus the Euro if the Eurozone does raise interest rates this week. The risk for anyone buying Euros will be if the anticipated interest rate hike is bigger than the expectation of a 0.25 point increase.
Comments from Jean Claude Trichet early last month about the need for a modest increase, whilst not part of a series of hikes, really boosted the Euro against the Pound and the Dollar, and given that both the latter currencies...
GBP EUR – Data out today
This morning sees the release of PMI (Purchasing Managers Index) data for both the U.K and the Euro Zone, Europe stepping up first at 09:00 and the U.K following shortly after at 09:30am.
I would imagine whoever performs the better of the two should gain ground on the other, however the market moves on rumour as well as fact so this really depends on what was initially predicted and how much the releases differ.
At 10:00am the final big release of the day for this currency...
