The Pound to Euro exchange rate has fallen heavily in recent trade but the author’s model suggests it’s now bottoming out in what is likely to be a narrow 1.1650 to 1.1731 range over the coming days.
Pound Sterling has erased its July gains against a resurgent Euro, and there is only one question to be asked in the coming week: where will the selling end?
Pound Sterling is headed for its biggest weekly slide against the Euro since December 2023.
The Euro was higher against major peers after Eurozone inflation figures for June beat expectations and raised questions about the appropriateness of another European Central Bank (ECB) interest rate cut.
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- "Huge" Interest Rate Cuts and Austerity to Send Pound Sterling Lower Against Euro and Dollar
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- Pound to Euro Rate Suffers Biggest One-day Set Back Since April, Here's Why