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With pound to euro rates having remained in a fairly tight range recently could we start to see movement for the pound later this week?
- UK inflation figures are released on Wednesday morning, and the results could heavily influence how the Bank of England approaches its next policy decision on 6th November. A higher-than-expected reading could give sterling a boost, while a weaker number may apply downward pressure across the board.
- Over in Europe, France had its credit rating downgraded by S&P Global Ratings over the weekend. Surprisingly, this has had little impact on euro to pound so far, a sign of the pound’s current vulnerability rather than euro strength.
- We’ll also be listening closely when ECB President Christine Lagarde speaks at 12pm tomorrow, as any hint towards future monetary policy could trigger further euro volatility.
- Across the pond, the US government shutdown continues, limiting economic data releases, yet the dollar remains strong against sterling, reflecting ongoing investor caution.
If you have upcoming transfers, especially in pound to euro or pound to dollar, this week could bring fresh movements. We’ll be monitoring the data closely, and can help you with rates ahead of potential volatility.
