Profile image
By Euro Rate Forecast (Reporter)
Contributor profile | More stories
Story Views

Last Hour:
Last 24 Hours:

The chances of GBPEUR falling below 1.10 (Dayle Littlejohn)

Sunday, October 30, 2016 1:45
% of readers think this story is Fact. Add your two cents.

With the US Presidential Election in full swing and only 9 days away, past history tells us there is a good chance investors will sell off their US dollars and move their assets into another currency to manage risk. This is even more likely as Hilary Clinton is in the spotlight again due to her email scandal that the FBI are looking into.

As EURUSD is the most traded currency pair globally, the demand for the Euro should rise in the upcoming weeks therefore GBPEUR will continue to fall. 

As for the UK the Monetary Policy Committee from the Bank of England are set to vote on interest rates this Thursday. The MPC have already cut rates from 0.5% to 0.25% since the UK public decided to vote out of the EU and there is a good chance a further cut could to 0.05% could occur as early as this Thursday.

The only saving grace is that UK GDP numbers last week exceeded expectation which could sway some voting members to hold off cutting rates until next week. Either way cut or no cut I expect a few members of the MPC to vote for a cut and consequently GBPEUR will continue to fall and therefore a drop below 1.10 looks likely.

With exchange rates continuing to fall, a popular option for clients buying euros is to buy their euros up front. If all of your sterling is not available to you at the moment (for example you are selling a UK property) you can still secure your exchange rate now and pay later. This is known as a forward contract.

For more information in regards to the currency market, forward contract or how I can achieve you the best rates possible feel free to email me with your requirements, timescales, the best number to reach you on and I will give you a call to discuss your options

** If you are already using a brokerage and would like to know if you are receiving the best rates possible email me with the exact figures and I will reply with our live price. This will take you a few minutes and in the past I have saved clients thousands! **


We encourage you to Share our Reports, Analyses, Breaking News and Videos. Simply Click your Favorite Social Media Button and Share.

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

Total 1 comment
  • Henry Parker

    It’s pretty tough to say where things are going to head next, but we just need to be wise and making sure we trade only when there is certainty in our play. I have just that with TradeWiseFX because of their regular market updates and info; it’s very handy and guides me nicely!

Top Stories
Recent Stories



Top Global

Top Alternative



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.