Sterling Euro rates stuck in limbo (Tom Holian)

The Pound has once again experienced an indifferent day vs the Euro after getting close to hitting 1.15 on the Interbank level earlier today. At the time of writing the Pound is just trading above 1.14 after falling into the 1.13 levels during mid-afternoon.

It appears as though recently that the Pound is stuck in a range on GBPEUR between 1.13-1.15 and not being able to break either side and if so not last for too long.

The Brexit talks due to start in March will be phase 2 and will be crucial as the key topics will be what happens to trade once the UK and European Union separate from each other. With the talks having gone well during the first week of December when citizens rights were agreed as well as the Irish border issue and the divorce bill I think next month’s talks could be the catalyst for better rates when buying Euros with Pounds.

We end the week with the latest figures from the Eurozone’s Producer Price Index for December with the expectation for 2.3% so anything different is likely to cause movement for GBPEUR exchange rates when this is published at 10am tomorrow morning.

However, arguably one of the most important data releases of the week is the data from the US Non-Farm Payroll due at 130pm in the afternoon. As the Euro has been trading at close to record levels against the US Dollar recently the data could cause a lot of volatility so make sure you’re prepared for what could happen to rates.

If you have a currency transfer to make and would like to save money when buying or selling Euros compared to using your own bank then feel free to contact me directly for a free quote and I look forward to hearing from you.

Having worked for one of the UK’s leading currency brokers for 15 years I am confident of being able to help you.

Email me directly Tom Holian teh@currencies.co.uk

 

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