Euro Rate Forecast

The UK’s economic recovery has taken another step forward today with strong Public Sector Net Borrowing figures. The figures came in lower at £3.17 bn versus the predicted £5.1 bn that was expected.

Reducing debt is a key factor of the coalition government’s budget deficit reduction programme, and as if to underline the credibility of the plans, retail spending figures showed an increase too. This is good news for the pound as it shows the recovery is still underway.

The excellent trading levels seen today may not remain for long however. News out today that Germany has revised up it’s growth forecast’s to record levels could spell the start of a euro rally, especially with GDP figures due out Monday.

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