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Well, this morning we simply have to talk about this GBP/EUR rate…over 1.4100 right now. That’s right, 1.4100. I imagine in the near future most of us will be rubbing our chins about finally buying that chalet or taking the children to Disneyland for a price not dissimilar to a council tax bill.

Talks in Greece being strung out certainly have not supported the Euro, we have talked about this ad nauseum and not a great deal has changed here. Mark Carney, the UK Governor of the Bank of England, spoke yesterday so let’s summarise his notions.

He intimated that any intention to cut interest rates to combat very low inflation would be ‘extremely foolish’, so that is a real plus for the strength of the Pound. We, for now, maintain our attractiveness to investors with the same yield. Mr Carney is of the opinion that these low price pressures are temporary and largely due to oil prices being so low.

There is a muted concern, however, that if these low prices were elongated then there could be a risk to consumer spending/wage cycles which can ‘build in’ inflation levels and this means we could stagnate. But, at this stage it is only a cautious observation.

So, to today then. There are Industrial Manufacturing and Manufacturing Production figures out this morning, the monetary policy statement and interest rate decision from mighty, mighty New Zealand and not a lot else on the data front. So, in conclusion, if you’ve not stocked up on Euros or re-planned your budgeted rates or made some use of this incredible surge then I would urge you to get on to this now.

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