Pound gets hammered – time to buy euros

Good morning,

The Pound took a little bit of a nose dive overnight following form the highs earlier during the day. The Pound remains in a strong position siting above 1.30 on the Euro and 1.45 on the US Dollar. It is a quiet day for the Pound ahead of the bank holiday weekend.

A busy day for the US with the Growth figures and university of Michigan sentiment index due. This is followed later in the evening with Janet Yellen speaking at Harvard. Markets are expecting that GDP growth has picked up from the first estimate to 1.0% in the second estimate reflecting firmer consumer spending and construction data.

Again no data due for the Eurozone.

With the Bank holiday weekend approaching why not look to place a Limit Order at a pre-desired rate to take advantage of the overnight and bank holiday market movements! You never know a rate that is not expected could possibly be achieved……and how..by placing a limit Order! Please call or mail me for quotes and to discuss further.

MORNING Buying Currency exchange rates:

GBPEUR 1.3106
GBPUSD 1.4656
EURUSD 1.1182
GBPCAD 1.9108
GBPCHF 1.4512
GBPAUD 2.0295
GBPPLN  5.7813
GBPSEK 12.158