Exchange Rate Forecast
The pound has slipped slightly against the dollar, following a revised forecast of economic growth, which put the country slightly below where it had been previously anticipated. At the same time, the UK’s inflation expectation has been lowered, thus alleviating pressure to increase the interest rate. However, the pound rose marginally on the euro.
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As the debt crisis in Spain is continuing to be resolved with sovereign debt being auctioned, so that the debt problems will be restricted, it is likely that the euro will continue to strengthen in the coming months. The euro has climbed by 7% against the dollar this year alone.
This has impacted many potential French real estate buyers’ budget and thus increased demand for higher French mortgages to minimise exchange rate loss.
Posted April 21, 2011
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