The currency markets for Pound Sterling vs Euro have had a very quiet start to the week with little movement.
However, on Thursday the Bank of England will for the first time publish their minutes immediately after the interest rate decision.
With BoE governor Mark Carney having recently suggested that the UK could be ready to raise interest rates Thursday’s meeting is likely to be volatile for Sterling vs Euro exchange rates.
Although I don’t think any change in monetary policy will happen for quite some time any mention of any members thinking about a rate hike could give Sterling a boost against the single currency.
Sterling is still trading very high against the Euro owing to the ongoing uncertainty in Greece and their stand off against the IMF.
With GDP in the UK looking positive at the moment and the Quarterly Inflation Report due on Thursday any increase for inflation could also send the Pound in an upwards direction on Thursday.
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