Pound to gain long-term against euro following ECB's rate cut

The foreign exchange boutique says the pound's strength will be boosted after the European Central Bank (ECB) decided to cut its interest rate by 0.25% to a new historic low of 1%. Concerns the bank is "behind the curve" have shaken investors' confidence in the region's chances of a swift recovery, it says. Although the cut should stimulate the eurozone's economy in the short-term, CaxtonFX expects the pound to strengthen against the single currency in the long-term. ...