Will sterling recover against euro with new cuts in UK interest rates this week ?

We have seen the Pound fall further against the Euro as the government continues to raise concerns over the UK economy.

 We have seen a continue in the trend of poor housing data and many are calling for a cut in interest rates to try and kick start the economy. It is for this reason that we have seen the rate fall away even further as many experts have priced in the possibility of a further cut in interest rates as early as this Thursday.

 On a slightly brighter note we have this morning had the announcement from the government that they are gong to try and assist the housing market by making life a little easier for first time buyers. This coupled with the fact that interest rates may not change this week could see Sterling recover slightly towards the end of this week.