Will Sterling continue to fall against the Euro? (Tom Holian)
During the week Pound Sterling vs Euro exchange rates got close to hitting their best level to buy Euros in 8 years.
However, Super Thursday which saw the release of the UK’s interest rate decision and the subsequent minutes saw Sterling fall against all major currencies.
Two members of the Monetary Policy Committee were originally predicted to vote for a rise in interest rates but only one member voted for a rise which caused the Pound to weaken.
Thursday also saw industrial output fall in the UK and British manufacturers have struggled this year due to weak demand from Europe, a high pound and sluggish investment.
Next week sees the release of UK unemployment data on Thursday with expectations for 5.6% so anything different could cause volatility for Sterling vs both Euro and US Dollar.
Further as the Pound has been strong for a few months against the Euro this is likely to start affecting British exports which could start causing the Pound to fall against the single currency.
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]
Source: http://www.poundsterlingforecast.com/2015/08/08/will-sterling-continue-to-fall-against-the-euro-tom-holian/
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