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Sterling Euro Rates on the rise owing to strong UK GDP and Greek uncertainty (Tom Holian)
Sterling Euro exchange rates have once again gone in an upwards direction owing to some better than expected UK GDP figures and Greek PM Alexis Tsipras suggesting that a ‘Grexit’ could still be on the cards.
Personally, I don’t think a Grexit will occur anytime soon and it is scare tactics more than anything else. However, whilst this uncertainty continues this is leading to Euro weakness.
Last night in the US the Federal Reserve met to discuss their latest interest rate decision.
As expected there was no change to the interest rates but the rumours are increasing of a rate hike possibly as early as September.
Typically when we see Dollar strength this results in Euro weakness and this is being reflected in the Sterling vs Euro exchange rates this morning.
It appears as though the Fed as well as the Bank of England are considering putting up their interest rates over the next few months but for me if one is to do it first I predict the Federal Reserve.
The biggest release of the week for anyone with a GBPEUR requirement will be Inflation and Unemployment data for the Eurozone tomorrow.
If the data is positive particularly for inflation this could prove to some extent that the QE introduced earlier this year is working.
However, if the results are not good we could see Sterling Euro exchange rates end the week on a high.
If you have a currency transfer to make and want to save money on exchange rates compared to using your own bank then contact me directly for a free quote. Tom Holian [email protected]
Source: http://www.poundsterlingforecast.com/2015/07/30/sterling-euro-rates-on-the-rise-owing-to-strong-uk-gdp-and-greek-uncertainty-tom-holian/
