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 Post subject: GBP/EUR New highs
PostPosted: May 14th, 2014, 4:25 pm 
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Joined: February 20th, 2012, 2:57 pm
Posts: 42
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The Sterling Euro exchange rate has moved higher into a new trading range yesterday afternoon, after better than expected Retail sales data from the British Retail Consortium and rumours that the Bank of England may be about to upgrade growth forecasts for 2014  which could bring forward the proposed date for interest rate hikes. These are the best prices that have been seen for almost 16 months. Our Traders are encouraging clients that need to purchase Euros in the short term to put something in place now.



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 Post subject: Re: GBP/EUR New highs
PostPosted: May 14th, 2014, 5:31 pm 
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Joined: June 5th, 2007, 4:36 pm
Posts: 1105
Location: Italy
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The Sterling Euro exchange rate has moved higher into a new trading range yesterday afternoon, after better than expected Retail sales data from the British Retail Consortium and rumours that the Bank of England may be about to upgrade growth forecasts for 2014 which could bring forward the proposed date for interest rate hikes. These are the best prices that have been seen for almost 16 months. Our Traders are encouraging clients that need to purchase Euros in the short term to put something in place now. Clients that are looking to lock in the best prices in over a year should speak to their Halo Financial consultant for an optimum strategy.

This morning the release of the latest Bank of England Quarterly inflation report was less hawkish than anticipated as bank Governor Carney reiterated that interest rates would rise only in the second quarter of 2015 and would reach 2% only by the end of 2016! This has caused sterling to dip slightly. Our traders now feel that Sterling may have peaked in the short term and that Euro buyers should take advantage of current levels.


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 Post subject: Re: GBP/EUR New highs
PostPosted: May 16th, 2014, 10:21 am 
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Joined: June 25th, 2008, 6:39 pm
Posts: 1171
Location: Carmarthen, south west Wales / Santa Maria di Ricadi, Capo Vaticano
The BoE restrictions for banks and building societies to check the potential lenders affordability instead of multiples of their earnings for house purchases will reduce the Fx rate compared to the Euro for a short time.
With the UK economy expanding and the prospect of UK interest rate hikes possibly next year augers well for us in the UK.
The 1 month Euribor rate which is linked to many Italian mortgages is slowly increasing from it's lows of several months ago but not as much as the strengthening of the GBP.


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