Daily Archives: September 22, 2010
Sterling Euro exchange rate forecast competition – Your prediction could win you £1500!!
Our friends over at Foreign Currency Direct are once again running their fantastic, free to enter competition where you can win £1500 merely by having a guess at where Sterling Euro will be at the end of the month.
It takes no more than two minutes to enter and is completely free of charge so why not click on the banner below and have a go.
I ended up around 1.5cents out last time… not bad over the course of a whole month!
My guess this time is 1.1739 – the month ahead I believe may be tough for Sterling – Lets try and get the first Pound Sterling Forecast winner this time round, you have nothing to lose!
BOE minutes lead to Sterling weakness – Pound loses against Euro, and many majors, still holds strong against AUD and USD
This morning we have seen the BOE (Bank of England) minutes released and this data has led to losses against most major currencies yet the Pound has made minor gains against the Dollar and Australian Dollar.
The gains against the Dollar were due to the Federal Reserve in America not exactly painting a great picture for their economy last night either.
Still just one member of the BOE voted in favour of an interest rate hike yet the main mover was the fact that numerous members are now seriously considering the option of further QE (Quantitative Easing) again in the near future.
Those of you who had an eye on the markets last year will be aware every time QE was mentioned or actioned it tended to lead to Sterling weakness so anyone with an upcoming requirement may wish to seriously consider their options inclusive of a forward contract, stop or limit order.
If you are buying a property abroad, have business transactions to carry out or need to get money overseas for any other reason and want the best exchange rates, just fill in the form on the right hand side and one of the experienced traders that write on this blog will be in touch shortly.
The Pound Sterling Exchange Rates due to be Volatile with Bank Of England minutes approaching
The Pound will face an extremely interesting day on the markets this morning with the Bank of England minutes being released at 09:30am
Generally the BOE (Bank of England) and in particular Mervyn King tend not to do much for investor confidence when they make such releases and from my experience in the past few years Mr King in particular tends to talk the Pound down.
The main focus will be on two factors – firstly whether or not any more menbers of the BOE voted in favour of a rate hike at the previous meeting, and secondly what the stance is going to be on further QE.
A mention of further QE and higher chances of it coming into play could lead to major Sterling weakness, on the other side a more positive spin may have the opposite effect.
If you are buying a property abroad, have business transactions to carry out or need to get money overseas for any other reason and want the best exchange rates, just fill in the form on the right hand side and one of the experienced traders that write on this blog will be in touch shortly.
