Caxton FX predicts sterling will rally against euro this summer
www.moneynews.co.uk > General finance > Caxton FX predicts sterling will rally against euro this summer
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Money News |
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Caxton FX predicts sterling will rally against euro this summer
Wed 9th Jun 2010
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But the rate will be slower as concerns remain about the eurozone and government cuts could also have an effect.
Spokesperson Duncan Higgins said that the pound could weaken in the long term as the cuts take effect.
He also predicted that the Source: Bank of England would try to protect the economy by not raising interest rates.
Should the spending cuts be too harsh, he warned, the pound could be weakened against the euro very suddenly.
Mr Higgins called for the coalition to strike "a fine balance" in its cuts.
In another recent statement from Caxton FX, Mr Higgins commented on the effect that slashed funding could have on the continuing growth of the service sector.
He warned that the trend for expansion could stop and that the cuts could have a long-term impact.
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