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Sterling moving from Strength to Strength. (Daniel Johnson)
The stall in Greece’s debt negotiation has caused Sterling to rise even further against the Euro. GBP/EUR is currently sat comfortably in the 1.37′s and has tested 1.38 at some points today. Key data to watch out for next week will be the European Consumer Price Index, Euro Gross Domestic Product and Euro Retail figures.
The market sentiment does not bode well for the Eurozone, For any serious movements in the Euro’s favour we will need to see a resolution in the Greece situation or positive inflation figures. The postponement on Greece’s debt negotiations is set to last for four months and with Quantitative Easing only being introduced in March, we will not see if it has had any affect until at least a month after. I am sceptical of QE. It is very hard to judge the impact of the cash injection and the only definite is the economy in question’s debt will grow exponentially. The ECB will be pumping in €1.1 trillion a figure not easily repaid.
If you are a Euro seller your losses could be severe if Greece exit the Eurozone. And with the GBP/EUR trend set to continue you should be seriously considering making a move. If you wish to call me to discuss your currency requirements please do get in touch by calling me on 01494 725353 and ask for Daniel Johnson, alternatively drop me an e-mail on [email protected] .
Source: http://www.eurorateforecast.com/2015/02/27/sterling-moving-from-strength-to-strength-daniel-johnson/
