Sterling Euro Exchange Rates Set for a Volatile Week (Tom Holian)

Sterling Euro rates have seen the best levels to buy Euros this month since 2007 following on from the Greek crisis and Mark Carney suggesting that the UK could raise interest rates before the end of the year.

This has helped to support the Pound vs the single currency but I think this recent positive movement could indeed be short lived.

Next week sees the release of UK GDP data on Tuesday and with the previous quarter showing growth os 2.9% I think owing to the strength of the Pound this is likely to have impacted the demand for British exports which could result in lower GDP for the second quarter.

If my predictions are correct we could see Sterling fall in value against the Euro so if you need to buy Euros it may be worth looking at getting something organised early next week.

On Friday the Eurozone announces both inflation data and unemployment figures. If inflation shows a rise it could be argued that the ongoing QE project for the Eurozone is working and could strengthen the Euro against the Pound even further.

If you have a currency transfer to make and want to save money on exchange rates compared to using your own bank then contact me directly for a free quote. Tom Holian [email protected]