Sterling Euro Hits 1.20+ (Tom Holian)

Following Bank of England Governor Mark Carney’s comments this morning Sterling has shot up to hit 1.20+ during today’s trading session against the Euro. Mark Carney’s speech this morning was primarily focused on reducing the risk of a UK house price bubble by aimed to scale back mortgage loans.

The loans made available by the government will now be aimed at business lending instead.

This is seen as good news for the overall economy and means the UK housing market will hopefully settle down and not grow too quickly which is one of the main reasons why we saw such a crash a few years ago. The changes put in place this morning are aimed at putting money into the place where it is most needed which is providing funding for small businesses.

Confidence in France has fallen according to a European Commission survey out today. It showed French consumer confidence fell sharply this month as worries include expectations that the general economic situation in the country could get worse.

As the 2nd largest economy within the Eurozone any problems in France can be often reflected in the value of the Euro. Off the back of these two data sets Sterling Euro exchange rates are now a fraction off a 10 month high providing us with some excellent buying opportunities for buying Euros.

If you need to buy Euros soon then get in touch for a free quote. Working for one of the UK’s leading currency brokers I am confident we can offer you better exchange rates than using your bank.

Email me Tom Holian teh@currencies.co.uk