Major swings for GBPEUR exchanges rates

Today GBPEUR exchange rates have been up and down like a roller-coaster. At midday the Bank of England released their last interest rate decision which provided a fantastic window for clients that were purchasing euros. GBPEUR central levels of exchagne reached 1.1450 as the Bank of England hinted an interest rate hike is on the horizon.

The reason for the change in stance comes down to the quarterly inflation report suggesting wage growth numbers which improved last month, will continue to improve throughout 2018. Furthermore the Bank of England announced a recent survey showed private sector companies believe they will be paying their staff an additional 3.1% by this time next year.

Also in the inflation report, the Bank of England are suggesting that the worrying inflation levels will continue to decline back towards the 2% target. Their reasoning is that they believe the pound will receive a boost throughout the year, making goods and services cheaper followed by at least 1 interest rate hike within the year. Mark Carney the Governor of the Bank of England also helped the value of the pound by suggesting the jobs market will remain strong with unemployment remaining at a four decade low.

However investors have sold off the pound this afternoon looking for higher returns, which has meant the pound has fallen back below 1.14.

If you reading this website for the first time as you need to convert GBPEUR, feel free to email me with the reason for the transfer (company goods, property purchase) and timescales you are working to and I will respond with my forecast and the options available to you drl@currencies.co.uk. Alternatively if you would like to discuss your requirements over the phone call 01494-787478 Monday morning and ask to be put through to Dayle Littlejohn.

If you are already using a brokerage and would like to a free quote email me with the exact figures and I will reply with our live price. This will take you a few minutes and in the past I have saved clients thousands.

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