Pound sterling hit to a seven-week low against Euro and it is expected that the trend will continue till the week-end. The Euro has been sharply rising since last Friday against major currencies and it has been predicted by our financial analysts that Euro will keep on rising till the month of September. The forecast for euro currency exchange rate is positive and investors will benefit from the upward market trend of Euro. “Euro will never crash or come to an end”, says Ferell Johnson, Cheif Executive of Universal Exchange. Traders have witnessed heavy movements in euros which drove the pound down and euro up. The dollar rose to 0.4 percent to $1.5226 against sterling which gave stability to greenback. The Euro is currently traded at $1.29. Heavy euro trading has been recorded after the news of euro currency rise, forcing forex investors to head for eurozone instead of sterling. The former President of Oxbridge has commented saying the pound fall is forced by the U.K. Govt. to increase euro trade, the second reason for pushing pound down is to create a hedge against euro for long term investments therefore the new investors are advised to buy pound sterling if they seriously want to trade and earn more than 20% profits.
