New research from Danske Bank Markets show that projections for the main Euro exchange rate pairs have been updated. The outlook against Pound Sterling is now more constructive.
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The Pound has steadied against the Euro despite the lack of certainty in British politics, perhaps more due to traders taking profit from their short-bets than due to any genuine buying interest.
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Don’t wait to buy your Euros, as the currency is likely to get more expensive the longer you delay.
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The GBP to EUR conversion has managed to form a base following the declines that came in the wake of the UK’s general election.
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The EUR/GBP looks oversold and is probably forming a short-term bottom
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Foreign exchange strategists at Westpac Bank in Sydney say they are looking to bet on a rebound in the Pound against the Euro. Here is their reasoning.
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There is a growing body of opinion amongst the analyst community that Pound Sterling could ultimately plumb 1.05 before 2017 is out.
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