Pound Crashes! Euro Exchange Rate Forecast (Andrew Bromley)
Sterling Euro suffered a mini crash yesterday, as poor services data showed that the Pounds push against the Euro is made on weak ground. We saw markets tip back in to the 1.26s for a brief moment – a far cry from the 1.29s that we saw Friday last week! This morning the Eurozone released its Inflation rate which had been tipped to come in as Deflation! This would have potentially crashed the Euro, however a slightly positve figure of 0.8% was recorded.
With the Eurozone Central Banks Fiscal meeting on 22nd and the Greek Election on 25th January, a busy months trading is guaranteed! I wouldn’t be surprised to see GBP EUR push back to at least 1.28, with 1.30 a more distant target.
If you have an exchange requirement, please feel free to contact the trading floor directly on 01494 787 478 to discuss. I am also contactable directly on [email protected]
I look forward to hearing from you…
Andrew Bromley
Source: http://www.eurorateforecast.com/2015/01/07/pound-crashes-euro-exchange-rate-forecast-andrew-bromley/
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