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GBP/EUR, GBP/USD and other major pairings will see serious movement today with inflation hearings this morning (Steve Eakins)
This morning markets will avidly be watching the inflation hearings for the UK economy today conducted by the Parliamentary treasury committee. Last week, GBP/EUR, GBP/USD and GBP/AUD were hit the hardest with news that expectations for prolonged inflation problems in the UK economy will take interest rate rises off the table until 2017 at the earliest.
Arguably, since the 2007/8 financial crisis, the most important determinant of a currency’s value has been the timeline for when the interest rate on that currency would rise again from these prolonged and historic lows. This is why last week rates plunged by more than 3 cents on GBP/EUR and back down to 1.50 on GBP/USD.
The news was a shock why is why the government have called together hearings on inflation to understanding why the situation isn’t set to improve and to understand how the UK economy can better be protected. Difficult questions will be asked, and in a parliamentary setting rather than a press conference, these cannot be avoided.
Any news coming out of the hearings are set to reaffirm the negative news and fears which caused the mass sell-off of Sterling last week. While it is difficult to gauge the exact extent of what could happen on the markets today, analysts agree there doesn’t seem to be scope for positive news from the hearing to reverse any of Sterling’s lost gains.
As such I strongly recommend that anyone using Sterling as a purchasing currency before the end of the year should contact me straight away on 01494 787 478 and ask the reception for Steve. For GBP/EUR, GBP/USD. and GBP/AUD, it will be difficult for Sterling to recover from the losses expected, so I would not be surprised if the current rates on offer end up being the best available for the rest of 2015.
We can discuss a competitive quote to take advantage of these current highs, and these current levels can also be pegged to avoid upcoming harmful movements against your transfer. Having been a currency broker for over a decade, and I am confident in saying I will have no difficulty beating rates of exchange offered elsewhere. [email protected]
Source: http://www.poundsterlingforecast.com/2015/11/10/gbpeur-gbpusd-and-other-major-pairings-will-see-serious-movement-today-with-inflation-hearings-this-morning-steve-eakins/
