Sterling Euro Exchange Rates at 3 month high (Tom Holian)

Sterling Euro exchange rates have hit a 3 month high during today’s trading session as QE in the Eurozone gets closer as well as an interest rate hike in the US.

Rumours are beginning to increase that both events will take place in December and this has caused the single currency to weaken vs Sterling creating some excellent opportunities to buy Euros at this 3 month high.

Bank of England economist Andy Haldane was quoted earlier today stating that the UK economy is losing speed but seemingly the currency markets are overlooking these comments and focusing on the problems in the Eurozone.

ECB president Mario Draghi has spoken gain today and his dovish comments have seen even more weakness for the single currency.

Eurozone GDP data is due out in the morning and if worse than the expected 1.7% this could see Sterling rise against the Euro during tomorrow afternoon.

If you have a currency transfer to make and want to save money on exchange rates compared to using your own bank then contact me directly for a free quote. Tom Holian teh@currencies.co.uk

 

 

 

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