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GBP/EUR Rates Hit 1.40! (Matthew Vassallo)
GBP/EUR rates have hit 1.40 during Wednesday’s trading, as Sterling’s positive move shows no signs of relenting. This recent spike has surprised many, as it was felt the UK general election was likely to bring some uncertainty to the markets. However, for the time being this seems to have been countered by the on-going concerns surrounding Greece and its potential exit from the Eurozone.
We also had information that two members of the Bank of England felt their decision to keep our base interest rate on hold was ‘finely balanced’. This indicated we could see a change in vote at the next policy meeting and with no one expecting rates to be cut again, rumours that we will see a rate hike before the end of 2015 may start to gather pace again.
With UK Retail Sales figures out tomorrow, along with Eurozone Manufacturing & Construction data we could see further volatility on the pair. We also have a Eurogroup meeting on Friday, which could give us a key insight into the current feeling surrounding the Eurozone and a possible Greek exit.
If you have an upcoming currency requirement and would like to be kept up to date with all the latest market movements, or simply wish to compare our award winning rates with your current provider, then please feel free to contact me directly on [email protected]
Source: http://www.eurorateforecast.com/2015/04/22/gbpeur-rates-hit-1-40-matthew-vassallo/
