This Thursday sees both the UK and European interest rate decision announcements, there have been comments from some quarters that in Europe we could see another interest rate cut while there is also the possibility of further Quantitative Easing (QE) in the UK. Should either or both of these outcomes be presented we could witness some major swings in Sterling Euro exchange rates. Last year Governor of the Bank of England Mervyn King left the door open for more QE this year and so the markets will be waiting with much anticipation to hear if the Central Bank have decided to “print more money.” As we have seen in the past QE can have a detrimental effect on Sterling and so even the mention of it can cause the Pound to weaken. However, a cut in interest rates in Europe could have a similar effect and result in Euro weakness.
So, with Sterling Euro exchange rates at a 16 month high it may not be worth waiting for this Thursday’s announcements in case it brings an end to the current levels. Call us today on 0800 3285884 or 0044 1494 725353 to speak to one of our experienced currency brokers who will be happy to discuss your currency requirements and all the options available to you. We offer a number of contract options which can be tailored to suit your specific needs and we pride ourselves on getting the best exchange rates possible – email us on email@example.com for a live quote.