Pound Sterling has retreated from recent highs against the Euro and could be set for a period of consolidation. Those looking to buy euros should cover some exposure at these levels with a competitive currency provider, says one market professional.
Pound Sterling has fallen against the Euro and Dollar amidst a sizeable slump in global equity markets. However, supportive UK interest rate expectations can limit downside.
The Pound to Euro exchange rate (GBP/EUR) has fallen to 1.1860 as the September selloff extends, with losses linked to faltering global investor sentiment.
Pound Sterling has risen for six months in succession against the Euro, but a recent recovery stalled at 1.19 and we could see a pullback evolve in the coming days.