Rate cuts leading to weakening pound against euro

After signs from the Bank of England that they are set to make further cuts to rates and the poor jobless figures the pound has once again fallen in value against the euro. The pound once again hit an all time low of 1.0756 euro’s before recovering again to 1.0772. The US have also shown that there currency is struggling with a 13.5 year low against the yen. This comes after a further cut in interest rates in the US with them now having the lowest interest rate amongst developed countries. The past few weeks have seen the pound slowly slipping against the euro and it is making exporting goods a lot cheaper. Let us know how the change in interest rates is affecting your business.