Sterling Euro exchange rates have moved in a positive direction so far this week following the cabinet reshuffle by Theresa May yesterday.
The reshuffle has been seen by many as an attempt to get things ready for the next round of Brexit negotiations to begin in the next few weeks.
However, the two main jobs including the role of Foreign Secretary as well as Chancellor have remained which means Boris Johnson and Philip Hammond have retained their respective roles.
One of the main positions for the Conservatives has been filled by Brandon Lewis who has been given the role of head of the Conservative Party.
Although the Pound has gained in value owing to the reshuffle yesterday the markets will turn their focus to UK economic data due out during the next few days.
UK Industrial and Manufacturing Production data are due out tomorrow morning and as Sterling has been trading at very low levels for the last few months the data could be positive.
Combined with the latest UK Trade Balance data I think we could potentially be in for a good day for the Pound so if you’re in the market to buy Euros then tomorrow may provide you with an excellent opportunity.
The Euro has also fallen from its recent highs against the US Dollar which has seen the single currency weaken against a lot of other currencies including Sterling with GBPEUR exchange rates trading above 1.13 since Monday morning.
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