Sterling Euro rates shot up during trading yesterday following comments made by head of the European Central Bank Mario Draghi concerning the potential of negative deposit rates within the Eurozone.

Initially we saw interest rates cut to record lows of 0.5% by the European Central bank which did not really have much of an impact on Sterling Euro exchange rates, however during the press conference following the rate decision comments made by Draghi did lead to an instant drop in the value of the Euro which gave Euro buyers a great buying opportunity.