Daily Archives: November 22, 2011
Bank of England minutes most important for the Pound – released tomorrow morning… Will Mervyn King do Sterling a favour for once?? Doubtful!
Well what can I say…. I go away for a long weekend and the Pound has slipped away again against the Euro….. The single currency appears to not know how to lay down and give up, and investors out there somewhere are still more than happy to back it.
Tomorrow morning is the next key data due for the U.K and indeed the Pound – further doom and gloom from the U.K could knock the Pound even further against the Euro.
The Pound is indeed still gaining ground against the perceived ‘riskier currencies’ such as the AUD, NZD and ZAR as investors risk appetite declines accross the world, as mentioned before when risk appetite is generally low then the more exotic currencies can tend to weaken…. great news for those of you looking to emigrate further afield!
Personally I feel the Pound will creep up a little further against the AUD, NZD and ZAR in the near term, until some major issues accross Europe at least have reasonably solid solutions in place to resolve them.
Tomorrow will be key for those with Euro requirements be it buying or selling as we could easily see a shift of quite some force surrounding the Bank of England’s release. It would not surprise me to see the Pound struggle again against the Euro and a spanner to be thrown into the works, it is easy when you have a currency transaction to carry out to stare upwards and just hope that rates follw suit, the problem is the currency markets can quite easily nip in your back pocket and steal your wallet whilst you are looking at the sky, and there is no guarantee that they will give it back and rates will return.
If you have a currency requirement imminently or in the coming months then do feel free to contact me directly email@example.com and I will be confident that you receive a much better rate of exchange than using your bank or another broker by using me – So far this year through this site alone 231 people have got in touch and used me personally, joining our growing list of over 40,000 clients here at Foreign Currency Direct.