Another turbulent week for GBP/EUR. Read more for the highs and the lows and what you should do now.
Sterling had another turbulent week this week with GBP/EUR reaching a high of 1.15 on Tuesday and a low of 1.13 this morning. This resulted from weaker than expected U.K. inflation data released on Wednesday, which made the pound fall 1% vs the euro and dollar. The pounds recovery was further hampered on Thursday by Bank of England Governor Mark Carney, who cited concerns over softer UK data and inflation. The probability of an interest rate hike in May has now reduced to around 50% from 90% earlier in the month. Sterling fell another full 1% on the back of Carneys comments. However this morning it has recovered slightly and it looks like it could be on its way back higher! We’ll continue to keep you updated.
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