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How will Sterling move against the Euro this week (Tom Holian)
During March Sterling Euro exchange rates hit their highest level in 8 years providing excellent opportunities to buy Euros. The highs were reached as the Eurozone’s QE finally started.
However, shortly after the announcement Bank of England governor Mark Carney raised concerns over the strength of Sterling as it could harm British exports.
We have seen a movement of 8 cents from the high to low during March highlighting the need to use a currency broker who can keep you updated with foreign exchange movements.
UK inflation was measured at 0% last week which was the lowest since records began which also caused Sterling to fall.
However, on Friday we were given a brief period of respite as Carney said the next move for interest rates is likely to be up.
As we enter April, expect to see a huge amount of volatility for Sterling vs the Euro as the countdown to the election begins. Typically this causes exchange rates to move quickly as various opinion polls are published.
Tuesday is likely to be the biggest day for people with a Sterling Euro transfer to make as the UK publishes GDP data. I think this could cause Sterling to rise against the Euro as the Retail Sales published on Thursday were massively better than expected.
If you have a currency transfer to make and want to save money on exchange rates compared to using your bank then contact me directly for a free quote. Tom Holian [email protected]
Source: http://www.poundsterlingforecast.com/2015/03/28/how-will-sterling-move-against-the-euro-this-week-tom-holian/
