GBP/EUR Rates – Corrective pull-back likely to see rates above 1.40 disappear

The USD/EUR currency pair is the most traded currency in the world. As such if, the Euro begins to perform strongly against the Dollar, this has a secondary effect in boosting Euro value against other currencies such as Sterling.

Today U.S. retail sales figures came in at -0.6%. The third month in a row with a contraction in the retail sector was the starting gun for a Euro rally that had been waiting to happen for a long time. Currently the rates have already moved 1.5 cents against the favour of Euro buyers just in the past 30 minutes. Those still looking to buy Euros should call into the trading floor immediately on 01494 787478 and ask for Joshua. Those looking to sell Euros, either do the same or drop me an email on jjp@currencies.co.uk to discuss how to ride this current momentum further.

For more news on foreign exchange rates and to request a free no-obligation quote visit www.currencies.co.uk