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What next for the Euro?
The outlook for the Euro is not particularly favourable as the likelihood of the rates hike in the US increases weakening the Euro against the dollar. As this process continues it is looking increasingly likely that the Euro is going to weaken further since the gulf in economic policy between the US and Eurozone increases too. As the USD strengthens and the Euro weakens it ‘weighs’ down (or lightens in this case) against other currencies.
The big Euro news this week is the Eurozone GDP data on Friday, this could easily impact current EUR rates for both buyers and sellers. When we stack up all the potential events in the Eurozone currently the future is not boding too well! There is a strong chance of more QE at Christmas (which will weaken the Euro) and then the prospect of maybe an interest rate cut in the future! Contrast this to the UK and the US who are currently tightening monetary policy, planning on raising interest rates in the future.
If you need to buy or sell Euros there is a strong chance the Euro will weaken further in the future, I think if selling euros in the future you should really be planning some form of exit strategy! For more information at no cost or obligation please speak to me Jonathan on [email protected]
Source: http://www.eurorateforecast.com/2015/11/10/what-next-for-the-euro-4/
