Currency Rates

EURO/GBP - 1.145


To request a up-to-the minute quotation, call 0808 163 0102 or fill out our quote form: http://www.smartcurrencyexchange.com/quote.aspx

Sterling seems to be enjoying some time in the sun gaining ground against most currencies over the last 24 hours. The Bank of England met and did nothing which was as expected. So no increase in interest rates or in their programme of quantitative easing. Other economic data was broadly positive as well which boosted confidence in sterling. The great unknown is the forthcoming general election. The worst possible world for sterling is a hung parliament. At the moment the opinion polls show the Tories ahead but is their lead enough to avoid a hung parliament. Only time will tell but this is going to lead to volatility for sterling so it makes sense to contact us sooner rather than later.

The euro continues to suffer from problems with Greek government debt. The interest rate being demanded to hold Greek government debt continues to increase which shows how uncertain the market is. The European Central Bank met and kept rates on hold. They also made positive noises about the situation in Greece saying they thought matters were under control. The ECB does seem to have greater flexibility in dealing with these matters when compared to the BoE. Also it has to remembered that the level of Greek government debt when compared to the size of the euro zone is not that significant. This thought process would change if say Spain or Portugal began to have similar problems. Please call us so we can help you take advantage of sterling’s strength against the euro.

Call 0808 163 0102 or +44 (0) 207 898 0541 from outside the UKor fill out our quote form: http://www.smartcurrencyexchange.com/quote.aspx