by Damian -
Pounds to Euro exchange Rates moved over 100 points north yesterday following some positive UK data pushing pound sterling to its highest level in 3 weeks against the Euro exchange rate!
If you are buying euros then now is a good time as the last few times we have been at these levels the currency pair has sold off.
The Pound is also up against the Australian Dollar and the New Zealand Dollar as commodity prices fall but is struggling against the consistent stream of Foreign Exchange Traders buying US Dollars!
While Britains economy has grown for seven straight quarters and unemployment has fallen, Carney has highlighted the risks from overseas. That was echoed by Osborne in his end-of-year statement to Parliament yesterday, when he said the warning lights are flashing over the global economy.
In his Autumn Statement yesterday, Osborne offered pre-election sweeteners such as a revamp of the tax on buying houses and higher levies on multinational companies, though he had little room for manoeuvre. The budget deficit is forecast to be 5 percent of output this year.
The Pound forecasts is getting very tricky but i believe that it can continue to rise it just needs to breach the 1.3000 on the pounds to euros exchange rate in the short term. Against the Us Dollar is is to tricky to tell.