Pound Sterling Forecast

Good Afternoon,

The pound witnessed some excellent gains against the Euro today spiking at 1.2098 before dipping back down to 1.2054 at time of writing.

The main reason for the movement is mainly due to events in Greece. It seems that time is running out on Greece to implement their austerity measures and Greek politicians are arguing as to how to cut their public sector GDP by around 3 billion Euros. The politicians need to sign this off otherwise they will not receive the 130 billion Euro bailout package
that is due.

France & Germany have come out with very hard comments pressuring financially troubled Greece to quickly complete deals to cut its debt and impose more unpopular austerity measures.

For clients that need to buy or sell Euros now is a very tricky time. With the amount of uncertainty out there at the moment I would suggest if you are buying Euros to capitalise on the uncertainty and achieve some of the best levels we have seen for a year or so.

Today’s movement of nearly a cent from high to low goes to show that even the markets don’t know what is around the corner and if there is a resolution for Greece soon (In my opinion there will be) you should act quickly as the rate can drop very quickly once the pound has spiked.

With the interest rate decision out on Thursday if the dreaded QE does happen then sterling could easily dip below 1.20 once more. It was only a few days ago that sterling exchange rates hit a low of 1.1899. Don’t get caught out holding out for a little bit more to get your fingers burnt. Please feel free to contact me at bma@currencies.co.uk and we can discuss your requirement and the options that are available to you.

To give you a quick background, we are currency brokers and have been in the industry for years, this site was set up set up two years ago to give clients simple but informative information and now have 20,000 people a month stop by for information.

Last year we had thousands of people get in touch with us through the site, of which hundreds have already used us and we have
saved them money over their high street bank or current broker, you can get in touch with us by clicking here and setting
up a free, no obligation trading facility to get a quote within minutes…. There is no harm in comparing rates even if you have used someone else for years – Just like buying car insurance you need to always shop around. You can
also email me directly bma@currencies.co.uk with any questions you may have.

I look forward to speaking with you.