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By Euro Rate Forecast (Reporter)
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Sterling Rallies to 1.12 against the Euro. (Daniel Johnson)

Wednesday, October 19, 2016 9:33
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Pound Forecast

Sterling has gained ground against the euro following positive inflation data. Inflation is a big worry following the vote to leave the EU due to the weak value of the pound it will be far more expensive to buy goods from abroad, this will be passed on to consumers. I estimate food may be hit hardest and we could see an increase of up to 5% in Q1 of 2017.

I think in order for Sterling to have a significant rally we will need to see article 50 triggered and decisive action taken in regards to trade negotiations. Theresa May has indicated article 50 will be invoked before the end of March 2017.

There is hope for the pound, however. There may well be opportunities for Euro buyers short term if you monitor the market and move on a spike. It is important to also keep in mind the Eurozone is not exactly in the best state. Italian banks have €360bn in bad loans, Greece is debt crisis continues, Inflation is shocking and there is the threat of further referendums. Draghi has done very well at sweeping this under the carpet. I think it is a case of keeping the music playing, but when the music stops there won’t be enough chairs.

If  you have a currency requirement it is crucial to be in touch with an experienced broker. The timing of your trade is vital during such volatile  times, If you have an experienced broker on board he/she can keep you up to date with what is happening in the market to help you make an informed decision. Should you find our information useful and you would like me to assist with your trade I will be happy to help you personally. If you inform me of the the currency pair you are trading, volume and time scale and I will provide a free trading strategy to suit your needs. I work for one of the top brokerages in the country and as such I am in a position to better virtually every competitors rate of exchange. You would also be looking at saving anything up to 4% in comparison to high street banks. Please do get in touch by contacting me at Thank you for reading my blog.


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