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Sterling Euro will it break 1.40? (Tom Holian)
During this month we have already seen the best exchange rates for buying Euros in 8 years as the QE finally began in the Eurozone.
We saw Sterling vs Euro tip past 1.42 over a week ago as confidence in the Euro dropped very quickly.
However, last Friday Bank of England governor Mark Carny put paid to Sterling’s advance as he suggested that the Pound is too strong at the moment which could be detrimental to British exports.
If exports start to fall this results in a slowdown for the British economy which ends up being reflected in GDP which ultimately could lead to Sterling falling against the single currency in the longer term.
In the short term though we could see Sterling volatility against the Euro with the announcement of UK inflation data due out on Tuesday. The expectation is for 1.3% so anything different could see big movements for Sterling Euro rates.
On Thursday the UK announces retail sales which have generally had a good run over the last few months. It could be Thursday that provides the opportunity for Sterling recovering against the Euro so if you need to buy Euros it may be worth looking at doing something later in the week.
If you need to sell Euros then it could be worth getting something organised prior to Thursday as I expect the retail sales to be positive for the UK and therefore Sterling.
If you have a currency transfer to make and want to save monye on exchange rates compared to using your own bank then contact me directly for a free quote. Tom Holian [email protected]
Source: http://www.eurorateforecast.com/2015/03/21/sterling-euro-will-it-break-1-40-tom-holian/
