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Sterling vs Euro falls owing to UK’s monetary policy (Tom Holian)
Sterling Euro levels fell towards the end of the week as the Bank of England kept interest rates on hold.
Even though this was expected the anticipation was for 2 or even 3 of the members to vote for a rate hike but in fact only 1 member wanted to see a raise in interest rates.
This caused Sterling to fall across the board against all major currencies and particularly against the Euro.
UK industrial output also fell in June which was caused by less oil, gas and mining production and I think that because the Pound has been strong against the Euro for a few months this period to buy Euros at these levels may soon be over.
If the Pound is too strong this negatively affects British exports and this will ultimately have a knock effect on British GDP.
Next Wednesday sees the release of UK unemployment data with the expectation for 5.6% so anything different could cause Sterling Euro rates to move.
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.eurorateforecast.com/2015/08/08/sterling-vs-euro-falls-owing-to-uks-monetary-policy-tom-holian/
