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GBP-EUR Rates – 1.40 barrier likely to be broken today
The trading floor has been open for half an hour and already the rates have fallen by half a cent. Even though the UK trade deficit (the difference between what the country imports and exports) has narrowed, visible from data released yesterday, it was not by enough. We are still close to the 5-year, eye watering high of £616m.
Due to the sudden increases of the value of our exports to the Eurozone, a result of the incredible gains made against the single-currency since the start of 2015, the deficit is likely to increase again, suggesting intervention by the Bank of England (BoE) later down the line. Which was exactly what the Governor of the BoE Mark Carney said in his speech yesterday. Causing Sterling to weaken by over a Cent in the afternoon’s trading which has continued this morning.
Call into the trading floor on 01494 787 478 and ask for Joshua to secure rates above 1.40. Euro sellers – drop me an email on [email protected] to discuss how to take advantage of movements in your favour over the next week.
Source: http://www.eurorateforecast.com/2015/03/13/gbp-eur-rates-1-40-barrier-likely-to-be-broken-today/
