Will GBPEUR hit 1.20 this week?

The pound to Euro rate is looking very attractive at the moment from a Euro buyers perspective as we get closer to understanding further just what Brexit negotiations the UK are aiming for. The Euro is weaker as investors are concerned over just what lies around the corner politically and fresh Greek debt concerns raise their head. Today is some very important UK economic data which could well help trigger some further improvements for the pound against the Euro.

If you are looking at the market this week there is lots of UK economic data which could move the market including the release of the latest UK Inflation data. The rate of Inflation is rising which is weighing on the Bank of England to perhaps consider raising interest rates in the future. As Inflation rises the common tool to combat higher Inflation is raising interest rates. Will the rising Inflation lead to fears over a decline in UK living standards or will a rise lead to investors placing bets the UK could raise interest rates sooner than previously hoped?

After this data at 09.30 we then have Eurozone data on GDP at 10.00am. All in all I think the Euro is going to err on the weaker side which will continue to present better opportunities for Euro buyers but of course there is the danger of the pound slipping with so much uncertainty over the Brexit looming. If you have a transfer to consider buying pounds or euros in the coming weeks then I would be looking very closely at what is happening politically in both the UK and Eurozone.

I am very confident I can help you with any currency transfers you will need to make by saving you money over other companies plus providing some useful information as to what might happen. For more information at no cost or obligation please speak to me Jonathan Watson by emailing jmw@currencies.co.uk

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