Today the world markets will begin trading after a long Easter weekend. Last week saw the GBP remain at a record high against the EUR, while the USD on the other hand bounced back versus the GBP.
Yesterday reports in the Eurozone and Spain announced further cuts in the Health and Education sector by €10 Billion. Mariano Rajoy’s government explains that the new reforms will increase the efficiency in the management of major public services.According to reports the UK is likely to see jobless total to rise by another 100,000 over the summer. Institute for Public Policy Research (IPPR) think tank believes that unemployment may not peak until at least September, and that it could be 18 months before the UK jobless total falls.
Royal Institute for Chartered Surveyors reported an increased in the amount of buyer interest in the UK housing market, which could increase market confidence in the UK, with the GBP to gain as a result.
There are concerns in the US due to stocks recently falling after employers added fewer jobs than originally forecasted in March. This dragged Standard & Poor’s 500 Index lower following its worst week of the year to date.
The next few days will see the markets back into full swing, but while GBP/EUR is at a high it would be worthwhile taking advantage of the preferential rate.
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