When the Pound has a bad day (like yesterday) the Euro feels the benefits. Find out why its a EUR/GBP market at the moment and what your next move should be.

The Euro rebounded vs.the pound following the Bank of England (BoE) meeting yesterday as the bank postponed their plans to increase UK interest rates after weaker than expected economic data. The BoE do however believe that the current soft patch in growth will soon reverse, with 7 out of the 9 members opting for a wait-and-see approach to raising interest rates this year. Now all eyes are on UK data over the coming months to see if the BoE will raise rates further. A good string of UK data and a rate hike would almost certainly increase the value of sterling. But for the moment if you are holding Euros its your market and it’s at an attractive time to buy sterling. Call us for a quote 02830263207.

Current rates:
GBP/EUR 1.125
EUR/GBP 0.87