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Staines: There are 'great opportunities' in sterling

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EURGBP rose to a five month high in early trading this Tuesday after data showed the UK slipped back into deflation in September. At one stage the pair hit 0.7493, just below a key psychological level of 0.75. However, Neil Staines, the ECU Group’s Head of Trading and Execution suggests such levels are overdone and he’s more positive about sterling’s prospects in the medium term.
Indeed, the euro lost ground later in the session after disappointing data from Germany; notably the ZEW survey indicated business sentiment fell more than expected. Neil looks at the prospects for sterling and considers when the UK might start raising interest rates as exceptions, both in London and the US, are pushed back still further.