Daily Archives: February 23, 2012

Pound weakens following Bank of England minutes – Once again the Pound fails to stick around at 1.20

Good morning all, sorry about the lack of posting in the last few days, I spent Tuesday at the brit awards and yesterday feeling like I had been hit by a train!

Yesterday whilst I was on anual leave the Bank of England minutes were realeased and indeed led to major Sterling weakness pretty much against all majors and once again stinging those that have 1.20 stuck in their mind as the only rate they are willing to buy Euros at. This is the 8th time Sterling has risen above 1.20 for a minor amount of time and then bombed so next time please bear this in mind, like I have said on the site many times before the people one step ahead out there aim for slightly less than everyone else (1.19) as to get through 1.20 and stay above there the movement has to be so strong that it breaks through the millions of orders at 1.20.

Of course this has been fantastic news for those selling foreign currency, personally I cannot see the Pound staying low for a major amount of time, indeed I feel it will be fairly range bound, however now at a lower level than we have seen.

If you have a transfer to carry out be it buying or selling the Pound then do feel free to contact me directly djw@currencies.co.uk and I will be more than happy to make sure you get a better rate than your bank or current broker, we can potentially save you thousands depending on the amount you are doing – I worked for a company that has been around for 11 years now, has over 40,000 clients and has won awards from the Sunday Times and Daily Telegraph for exchange rates and a National Business award for customer service. If you find the site useful then you have nothing to lose, drop me a line and I will be more than happy to help you too.

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