The Pound has had another topsy turvy week vs the Euro after a number of mixed economic data releases before finishing the week trading at 1.12 vs the single currency.
Next week brings with it the latest UK Inflation Report Hearings and with inflation such a hot topic at the moment the report could cause a lot of volatility for the Pound vs the Euro so make sure you’re watching GBPEUR rates on Tuesday morning.
With inflation having hit above 3% last month this prompted the Bank of England to raise interest rates for the first time in over ten years.
However, the most recent inflation figures showed a fall which suggests that maybe the central bank moved too quickly to raise rates and this caused the Pound to fall against the single currency.
Indeed, according to the Bank of England rates may only go up twice by 2020, which is hardly anything to get excited about if you’re looking to invest in the Pound for a yield on interest.
On Wednesday Chancellor Philip Hammond will announce the latest Autumn Statement for the UK.
This could be quite a difficult budget for him politically owing to the uncertainty surrounding the Brexit talks and with the divorce bill still to be sorted I think we could see the Pound come under pressure vs the Euro during the middle of next week.
If you have a need to make a currency transfer in the coming days, weeks or months then feel free to speak with me directly as I will be more than happy to help you both with trying to time a transaction and getting you the top market rate when you do come to buy your currency compared to your bank or another currency broker.
Even a small improvement in the exchange rates can make a big difference so feel free to to email me and you may find you could save yourself hundreds if not thousands of Pounds. You can email me (Tom Holian) on firstname.lastname@example.org and I will respond to you as soon as I can.