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Sterling Euro Exchange Rates break 7 year high (Tom Holian)
Sterling Euro exchange rates have continued their advance even in the light of Eurozone Retail Sales data which came out much higher than expected.
Typically this would signal the Euro strengthening against Sterling however it goes to show that the markets are heavily focused on tomorrow’s central bank meetings for both the Bank of England and the ECB.
The real issue for the Eurozone is not just the Greek issue but the rate of inflation on the continent which is worryingly low.
The amount of QE penciled in at EUR1.1trn until September 2016 has created a basic problem of supply which has weakened the single currency to its lowest level in 7 years.
The ECB press conference which takes place at 130pm tomorrow will cover the current thinking of monetary policy for the Eurozone so we expect a huge amount of volatility during late afternoon’s trading session.
French unemployment is also due out very early in the morning so I expect to see Sterling strength first thing tomorrow.
If you have a currency transfer to make and want to save money on exchange rates then contact me directly for a free quote. Tom Holian [email protected]
Source: http://www.poundsterlingforecast.com/2015/03/04/sterling-euro-exchange-rates-break-7-year-high-tom-holian/
