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Sterling closing in on a 6 week high against the Euro (Tom Holian)

Wednesday, April 12, 2017 1:45
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(Before It's News)

Sterling has made some gains against the Euro during this week hitting close to a 6 week high to buy Euros.

The Pound has risen against all major currencies during the course of this week and it appears as though the Brexit fears have been shrugged off for the time being.

UK unemployment data is due out shortly and the expectation is for 4.7% so anything better could see even further Sterling strength against the single currency.

At the same time however we also have the release of UK Average Earnings for the last three months.

These have been a concern as of late as they have fallen recently which can be taken in two ways.

The good news is that more people are in work but at the same time the spending power has been reduced which ultimately can have a knock on effect on the British economy.

The longer term problem for the Euro could be when the French elections start within the next fortnight.

If Marine Le Pen gets past the first round of voting which takes place on April 23rd we could see some problems ahead for the Euro. However, with Geert Wilders losing last month in the Netherlands the feeling of anti-establishment in Europe appears to have marginally dissipated.

Having worked in the foreign exchange industry since 2003 for one of the UK’s leading currency brokers I am confident of being able to offer you bank beating exchange rates as well as help you with various contract types that banks typically do not offer private clients.

If you have a currency transfer to make and would like a free quote when buying or selling Euros then contact me directly and I look forward to hearing from you.

Tom Holian [email protected]

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