Tuesday, 31 March 2015

UK growth figures push GBP/EUR above €1.38

We’ve seen a spike in GBP/EUR rates during trading today, pushing up nearly 2 cents from 1.3650 to 1.3830 as the chart below shows: 



UK Growth revised up 


The reason for the steady gain for the Pound was this morning’s figures that showed UK's economy grew at a faster pace than initially estimated last year. You can read a full outline of the improved growth figures here on the BBC website.

I’m still of the view that Sterling will struggle to gain given the upcoming election uncertainty that’s likely to last until the end of May. Still, those with Sterling to convert to Euros should consider taking advantage of this spike in the markets. 

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