Sterling to Euro Forecast May 2014

Written by on May 5, 2014 in Currency Information

ten euro noteSterling Close to 10-Week High Versus Euro, as UK Economy Advances – 2 May 2014

Sterling continues to climb against the euro!

The pound has touched 1.2199 versus the common currency recently, close to its highest in 10 weeks, or since February 18th.

By contrast, the pound was at just 1.1904 on March 18th. Hence, it’s since climbed +2.48%, or almost 3 cents.

A £250,000 transfer to the UK would hence be worth +€7,375 more today than on March 18th.

(Please bear in mind, these are the interbank rates at the time of writing. This means the exchange rate may have changed since then.)

Sterling may continue to climb, as UK bounces back

Furthermore, the pound could rise higher yet against the euro in May. Here’s why:

1. The UK’s manufacturing sector expanded at its strongest pace in 5 months in April.

This may lift the pound, because it suggests that the UK’s recovery doesn’t just depend on consumer spending.

2. The UK economy grew +3.1% between January and March compared to a year ago, the most in 6 years.

This could boost the pound, as it tells us the UK is growing faster than any other major country right now.

3. UK house prices jumped +10.9% in April compared to a year ago, the most since before the financial crash.

This may strengthen sterling, as it makes the Bank of England likelier to hike interest rates.

So, the pound could climb further against the euro yet!

Related Articles

How to make the most of your money when it comes to currency exchange

With more than 20 years of experience, OFX aims to take the mystery out of foreign exchange and provide clients with best in class service, competitive rates, market insights and the right currency strategy to help you plan ahead. Introducing OFX – Where the world’s moving when it comes to global payments Often people default […]

Continue Reading

Exchange Rates and Their Impact

Many of you reading this will be no stranger to the vagaries and volatility associated with the currency markets. It is a major consideration in any expatriates’ life unless they have severed all ties with the UK and have fully committed to a Francophile existence and at no time in recent history has it been […]

Continue Reading

What’s the best Currency Exchange for you?

Currency exchange simply means exchanging one currency for another. But, there are different methods for doing this. The way that is best for you depends on your specific requirements. When it comes to exchanging British pounds to euros there are three options: Travel cash/Holiday money Most people experience the process of currency exchange for their […]

Continue Reading

How To Save Money On Your Euro Transfers

When it comes to foreign currency transfers, most of us think it can be a tad complicated and we simply arrange a direct transfer online through our bank account for the convenience. However we looked into the process and found it’s worthwhile to spend just a little bit of time to set up an account […]

Continue Reading

How To Make Your Pension Go Further In France

You’ve worked hard to pay for your dream retirement in France, now’s the time to enjoy that relaxed way of life you’ve planned.  If however, your ties to the UK are not entirely cut, and you have a pension being paid into a bank account in the UK –  then you should consider ways to […]

Continue Reading

Subscribe

If you enjoyed this article, subscribe now to receive more just like it.

Subscribe via RSS Feed

Comments are closed.

Top