Visitors Now:
Total Visits:
Total Stories:
Profile image
By Euro Rate Forecast (Reporter)
Contributor profile | More stories
Story Views

Last Hour:
Last 24 Hours:

Public Sector Net Borrowing and US Interest Rate Decision to Impact Sterling Euro Exchange Rates (Tom Holian)

Wednesday, September 21, 2016 0:57
% of readers think this story is Fact. Add your two cents.

(Before It's News)

Sterling Euro exchange rates could be in for another difficult day ahead as the UK is set to shortly announce Public Sector Net Borrowing figures for August.

Following the Brexit vote and the UK’s decision to leave the European Union I expect the figures to be exceptionally high and this could cause potential losses for Sterling vs the single currency.

Pound Sterling Euro exchange rates hit their lowest level in 4 weeks yesterday and getting close to a 3 year low as confidence in the Pound continues to struggle.

The Bank of England’s Quarterly Bulletin is also announced at 12pm today and this is likely to focus on the economic issues caused by the Brexit vote. Therefore, any negative data released could see Sterling fall against the Euro.

However, arguably the biggest event of today and possibly the month will come from the US when the Federal Reserve releases its latest interest rate decision this evening.

There is a chance that the US may look at raising rates which will be the first time since last December and this caused huge movements for Sterling, Euro and the US Dollar.

The chance of the Fed changing monetary policy this evening is at just 15% but even with such a low figure there is still a chance so if any change does occur I expect to see a lot of volatility caused overnight.

If you want to avoid the uncertainty of tonight’s decision and need to buy or sell Euros then it may be worth organising this fairly soon in order to protect yourself against any potential negative movement.

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

I look forward to hearing from you. For a live exchange rate call me directly on 01494787478.

Report abuse


Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Top Stories
Recent Stories



Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.