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GBP-EUR Rates – Already movement of more than a Cent by 8:30am.
Rates have been very volatile recently with significant gains seen as the full extent of the European QE program is realized. However, the benefits are already visible as well. Data released over the weekend reveals the huge increase in investment in the Eurozone as a result of QE. The low value of the Euro makes investment cheaper, and with the easier access to credit under QE, investors are flocking to the faltering Eurozone, looking for opportunities in a world of weak global growth where such promising returns are few and far between.
Due to the panic of Euro Sellers, rates are struggling to hit below 1.39. Sellers are doing so as soon as rates dip below 1.395, rather than riding the more robust sentiments of Euro recovery. Eurozone CPI data is out today. One other effect of QE is to drive up inflation. Should the CPI data show that QE has already begun to increase inflation, we could see 1.39 breached.
Call into the trading floor on 01494 787478 If you have a currency transfer to make and want to save money on exchange rates compared to using your bank. Ask for Joshua – [email protected]
Source: http://www.eurorateforecast.com/2015/03/17/gbp-eur-rates-already-movement-of-more-than-a-cent-by-830am/
