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GBPEUR rates falling down
The trend for GBPEUR rates have been very positive over the last few weeks and months, GBPEUR rates have climbed by nearly 6% this last 30 days however are we at a turning point. Many think that we are as the elastic band is about to be broken. GDP figures yesterday for the UK came out down and we have had commentary from the BOE this afternoon hinting further more. The concerns are that there are no real limits of resistance. These are target levels for trades, that when hit brings with it a flow of additional capital and demand pushing rates back. As these are almost none existent at the moment levels will probably continue to swing widely.
Watch out for the UK Budget next week which will really start the election run. Now if they use it as a ‘sales tool’ Sterling could continue to run away, if however they are more honest and announce cuts, Sterling value could start falling. In either case with markets the way there are I would not be surprised to see rates swing by over two cents on the day!
So if you are a buyer or a seller you really need to be in a position to take advantage. Get in contact if you would like a more pro-active forecast about how the markets could move in your siutation.
Contact myself Steve Eakins at [email protected] for more information
Source: http://www.eurorateforecast.com/2015/03/12/gbpeur-rates-falling-down/
