Sterling looks set for a 9th straight week of decline against a resurgent Euro

The Pound hit a fresh 1 year low against the Euro this morning.

This latest move follows a speech by Bank of England Governor Mark Carney yesterday in which he confirmed that the UK economy remains too fragile to consider raising interest rates.

This is a change to previous comments made in the middle of last year when he said the time to normalise rates is moving ever closer. It suggests the Bank of England is unsure when a rate rise will be needed.

With the uncertainty surrounding the EU referendum and possible Brexit already weighing heavy on investors’ minds it would seem the Pounds woes are far from over.

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