Thursday 27th March 2014
Good morning - a quick update as we have just seen UK Retail Sales released, smashing expectations and giving the Pound a large boost - up to almost €1.21 against the Euro at the time of writing.
We expected the numbers to show monthly increase in Retails Sales of 0.5%, and an annual increase of 1.7%. The actual figures were 1.7% and 3.7%, which were significantly above forecast.
The result for Sterling was a large spike in exchange rates, as you can see from this GBP/EUR chart:
So after more than a week of the Pound struggling to break through the €1.20 barrier, this has now happened due to the much better than expected data. Personally I'm surprised it broke through this barrier so quickly, but then nobody expected today's figures to be so strong.
Find out more about the rates and service I offer
If you have a currency transaction to perform and would like to find out how I can help you, get in touch in the following ways:
Click here to send a free enquiry
Call me directly: +44 (0) 1442 892 066
Ask for Alastair Archbold, and quote ref ‘FERF’
Labels: €1.20, Best Exchange Rates, Pound/Euro