Euro-GBP exchange rate

C

cloughy

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looking at buying a car in the UK within the next 6 weeks, and having watched GBP strengthen from 0.97 last week to 0.92 yesterday the Euro cost is increasing, I know that both are likely to cut interest rates, but wondering whether in this timeframe 4-6 weeks, what peoples opinions are and whether to buy the GBP now.

I know there are two sides to every opinion, but would like to get some other opinions.
 
there is no crystal ball for this but have heard the GBP is to get stronger next few weeks
 
There is a UK MPC announcement this week where at least a 0.5% cut in UK rates is expected. This, at least, is probably already priced in.

Eurozone inflation came in much lower than expected so there will likely be a significant cut following the next meeting on the 14th. This, of course, will reduce the current very strong Euro.

Market expectation is that the Euro will be back around 80p by the middle of the year.

Personally I'd be buying at least some of the Sterling this week in this situation. I don't think we'll see 98p again.

SSE
 
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