Those with future euro requirements should consider locking-in the current strong GBP-EUR exchange rate. The British pound (GBP) has made significant gains against the euro in recent sessions thanks to current interest rate differentials and expectations on future interest rate changes. The previous week was been an important one for the pound sterling - it shot higher against a host of major currencies on expectations that UK interest rates are due to rise towards the end of the year.
If you are holding out for better rates, or afraid of a further deterioration in the FX pair you are watching, then consider getting an independent FX firm to help set up a risk management strategy.
Earlier this week sterling had already a good run, especially against the euro, however after the Carney comments there is even less reason to row against the tide reckons Lammens. Rising rates nothing to be ashamed of, says Bank veteran: For Sir Charlie Bean, the retiring Deputy Governor of the Bank of England, the past year has brought an obvious benefit.
TSB boosted by Carney threat of interest rate rise: The likelihood of an imminent jump in interest rates has pumped up the value of TSB ahead of the high street bank’s stock-market float.
Until now he always tried to convince markets that the BOE will keep rates low as long as possible. With a little help from euro weakness, this target might come within reach sooner than expected until now.
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