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Will GBPEUR hit 1.40?
This Thursday’s ECB meeting is the key point for me. I would expect the euro to come under pressures on Thursday as the ECB board are under pressure to discuss more QE. QE is bad for a currency because it increases the money supply, rising supply means the price falls because demand is lower. The ECB has to do something to stem the rising Unemployment and other problems in the Eurozone. Tomorrow’s PMI data and the Retail Sales figures might be loosely supportive for the euro but on the whole I expect the Euro to be on the weaker side towards the end of the week. In short if you need to buy euros, hold for better levels, if you need to sell get out quick!
For more information on when is the best time to make your exchange please contact me Jonny on [email protected]
Source: http://www.eurorateforecast.com/2015/03/03/will-gbpeur-hit-1-40/
