European central bankers are said to be disgruntled with Mario Draghi after it emerged that his management style is secretive. The Euro made some gains against the pound and dollar after US data today showed an increase in the Trade Balance figures. This caused the USD to weaken and the Euro to strengthen, pushing GBPEUR back safely into the 1.27’s.
Guessing just how this will pan out on Thursday is difficult but I would not be surprised to see the Euro weaken. If you need to sell Euros for the pound than it may be wise to move before Thursday’s decision, likewise if you need to buy Euros and want to see some improvements on the price, moving after Thursday’s decision is probably the best bet.
If you have any questions or queries on the market please contact me Jonny on firstname.lastname@example.org