Will GBPEUR rise or fall on the Bank of England decision?

The Bank of England meet tomorrow to discuss their latest interest rate decision which is predicted to see the pound higher but there are no guarantees! The pound has already been rising against the Euro, the Euro itself weaker from the outstanding problems in the Catalonia region of Spain. GBPEUR will largely be driven by the Bank of England decision at 12 noon, plus the commentary after. GBPEUR could be in for a very busy day so if you need to buy or sell Euros getting in touch sooner than later could be best!

Overall the pound is stronger as markets are pricing in positive news but there could easily be surprises along the way. If you have a transfer to make then we could easily see some improvements for the pound but with much of the good news priced in for the pound we will need to see some very positive news to see a big change.

With much of the good news priced in, the scope for disappointment is high. Expectations are set for the Bank of England to raise rates but if they don’t then the GBPEUR level could easily slip and probably come down by as much as 2-3 cents. On good news however it may only climb a cent. Currently GBPEUR is at the best rates in 3 months so if you need to buy Euros gambling on further improvements carry risk!

If you are looking to buy or sell the pound against the Euro in the future then please make sure you are up to date with the latest trends and themes on the market. I am a specialist currency broker here to help with the planning and execution of any transfers that you will need to make in the future. Thank you for reading and I look forward to hearing from you!

Please email me Jonathan on jmw@currencies.co.uk to learn more.

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