Wednesday, 16 November 2016

Stering recovers back to €1.1650

The Pound has recovered this morning after yesterdays fall. It turns out the 'leaked government memo' was actually from consultancy firm Deloitte and had no input from number 10 or indeed any government department. The Pound has also received a boost on the news that Google will make a major £1bn UK investment and expand its London base. This shows that major international companies are still happy to invest in the UK despite concerns over 'Brexit' uncertainty. The 24 hour chart below shows the recovery in GBP/EUR rates.



So for now it seems the Pound is holding on to its recent gains, and buying levels for the Euro are at much better levels tan they have been.

What could affect exchange rates today?


At 09:30am this morning we have UK employment data which could affect Sterling. Later this afternoon we have a speech by a Bank of England member.

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