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Pound up on RBS news – Buying a high this week (Steve Eakins)
GBPEUR rates climbed today following news that the government had sold of another stake in the RBS bank. Even though they took a lose of over £1 billion the new revenue in the government of over £2 billion was well liked by the market and pushed sterling value up against most major currencies.
Moving forward most traders eyes who are doing a GBPEUR trade are on Thursday. This is when selling Pounds and buying Euros are expected to be the highest this week. UK Inflation and Bank of England information is released which is widely expected to give us a better idea on the potential of an interest rate hike in the future. The current view is that they will be looking to hike rates later this year or early 2016. This information should confirm these assumptions, push up demand for the Pound and therefore result in the value of the Pound climbing.
You will have however a choice to make as to when to trade. There will be two opportunities; both in the build up and the confirmation of the data being released. For a full breakdown of how the maximise the transfer you are looking to make feel free to get in contact with myself, Steve Eakins via [email protected]
Source: http://www.eurorateforecast.com/2015/08/04/pound-up-on-rbs-news-buying-a-high-this-week-steve-eakins/
