Pound to Euro Rate in Friday Swoon
- Category: EUR
Pound Sterling in late-week swoon against the Euro after global stock markets see aggressive selling.
For those selling euros and buying pounds, Citibank's currency trading desk has some advice, telling its clients to lock in the recent gains in EUR/GBP and "anticipates a gradual move lower."
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.