GBP-EUR Rates – Further Gains for the Euro today sees 1.37 reached (Joshua Privett)

About a week ago Sterling gained an additional boost against the Euro, as one of the members of the Bank of England Board indicated he was changing his mind about potentially raising the interest rate. Today’s minutes and the unanimous vote to keep interest rates as they are saw the market rapidly remove those gains previously priced into the value of the pound.

This is part of a trend we have become used to since the start of the week. Already moving 5 cents away from the absolute highs we saw less than 10 trading days ago, the question is no longer when will the Euro stop weakening? Rather the question is now a complex one. When will the Euro stop strengthening? Also, will there be a period of balance before we see the election beginning to weaken the value of Sterling.

Those with a requirement to purchase Euros still have an hour before the trading floor closes to call me on 01494 787 478 to discuss how to capture the still favourable rates. Alternatively, those with Euros to sell, please do not hesitate to email me, we can discuss how to take advantage of the current moves in you favour, tailored to your particular needs and timeline – [email protected]