Daily Archives: February 29, 2012
Sterling exchange rates have strengthened against the Euro this afternoon by 0.70% spiking up to 1.1898. This is a gain of over a cent from Monday’s low.
Just as it was looking like the pound was heading in the wrong direction and all the signs were that the pound could hit below 1.17 the European Central Bank (ECB) unexpectedly provided a further €530 billion of low interest loans to 800 banks across Europe. The last time the ECB did this was in December and the Euro weakened at that time too. The cheap loans mean that European banks are flooded with cheap money and are able to invest in bonds in other countries. The cheap loans were oversubscribed and it has helped sterling exchange rates bounce back.
This move goes to show that, you can continuously follow the markets and wait for all the data releases under the sun to hit the market but the unexpected can move the rates of exchange when we least expect it. Trying to gauge the currency markets can be very difficult. We watch the markets all day long for clients and this move has increased the buying volumes for the Euro. There are now some excellent buying opportunities on Euro rates of exchanges. When there is a quick movement in the market we can help a client save thousands of pounds over the high street bank.
Please do contact me at firstname.lastname@example.org and challenge us here at Foreign Currency Direct/Pound Sterling Forecast to beat
the rates of your banks or current broker. We promise you that you will not be disappointed. We will also offer you our expert opinion on when we feel is a good time to execute a trade. If you let me know what your situation is I can go over the options that are available to you.
Pound Sterling climbs against USD as investors prepare to take on risk once more AUD, NZD, ZAR benefit!
The Pound has once again made gains against the USD over the start of this week as all seems relatively quiet on the European front (not for long though i’m sure) and global attitude towards risk appears to be increasing off the back of this.
In turn, this means that investors tend to pull funds out of their perceived ‘safer currencies’ such as the USD (gold is also priced in Dollars) decreasing the demand for this currency and also making it cheaper to buy.
We have also seen the ‘riskier currencies’ such as the South African Rand, Australian Dollar and New Zealand Dollar make gains from this as demand for them increases.
My view is that more European troubles are sure to come to front page news again it is just a case of when…. As and when this does happen we should see things turn around again… Those looking to sell Dollars or Sell AED Dirhams (pegged to the Dollar) will have a selling opportunity and those buying AUD, NZD or ZAR will have a great buying opportunity (compared to recent times anyway) however the European Central bank would all be great poker players as they are all very good at keeping their cards close to their chest so we may have a little wait on our hands first.
If you have a currency transfer to make be it buying or selling then feel free to contact me directly email@example.com for a direct comparison against your currenct bank or broker and I will do everything I can to beat it by enough to make it worth you using me instead as there is always room for improvement in my experience.