Will UK GDP figures cause the Pound to fall against the Euro? (Tom Holian)

Sterling Euro exchange rates are due to remain relatively quiet during today’s trading session in anticipation of some large movement due to come tomorrow.

We begin the morning with the latest set of UK GDP figures for the second quarter at 930am. The expectation is for 1.7% year on year and as this is the first estimate it is often very difficult to predict.

The period of time that this covers includes the general election as well as when the Brexit negotiations started so I think we’ll see a difficult release tomorrow morning.

The Euro has also strengthened to its best exchange rate to sell Euros to buy Sterling since the autumn of last year when European Central Bank president Mario Draghi hinted last week that the central bank will be looking to taper their current QE programme.

This was welcomed by the markets and this helped the Euro to hit its highest level to buy US Dollars in over a year highlighting the strength of the single currency.

I think we could see the Pound fall further this week against the Euro so it may be worth moving prior to the UK GDP figures due out in the morning. For a quick free quote call me directly on 01494787478 and ask for Tom Holian when calling.

If you have a currency exchange to carry out in the coming days, weeks or months then you are more than welcome to speak with me directly as I will be more than happy to help you both with trying to time a transaction and getting you the top market rate when you do come to buy your currency.

A small improvement in a rate of exchange can make a huge difference so for the sake of taking two minutes to email me you may find you save yourself hundreds if not thousands of Pounds. You can email me (Tom Holian) on [email protected] and I will endeavour to get back to you as soon as I can.