Daily Archives: April 13, 2012
Sterling/Euro Exchange rates spike to 1.2151
The pound has risen up again to one of the highest levels we have seen for buying Euros this year. All of our trades have been going through above the 1.20 level. If you are being offered rates below this level please do get in touch with me at bma@currencies.co.uk to see if we can make you a saving on your Euro purchase. If however you are selling a property in the Euro zone then I am finding it difficult to see where major Euro strength will come from. The Euro has weakened further today as Spanish bonds have risen again due to fears that the banks in Spain are relying to heavily on lending from the European central Bank.
Looking into next week to see where the pound/Euro rates may head I feel that there will be peaks and troughs and the range bound will be between 1.2025 to 1.22. With a lot of inflation data out for the UK, employment figures due and the all important Bank of England Minutes the rates could be volatile during trading next Tuesday & Wednesday. If you can secure your currency exchange when the pound is spiking like at present you cant ask for more than to be trading at a year high. I feel these levels represent very good buying opportunities and if you would like our expert opinion on factors that may affect your exchange please do contact me with all your details on bma@currencies.co.uk
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 or queries.
I look forward to speaking with you.
Interest rate decision in Canada looms. Where will the CAD rate be next week?
GBP/CAD exchange rates have been on a very volatile ride recently and if you require buying this currency you would have been happy seeing the pound gain about 3% recently. As quickly as the pound rose it weakened by 3 cents in the space of two days after. This goes to show how quickly the currency pair can move. Accelerating growth in the US boosted demand for riskier currencies and rising oil prices have supported the CAD.
The pound is back up and hovering around the 1.59 level and next week there is a big interest rate decision for Canada on Tuesday. It is unlikely that we will see a change in the rate of interest but if there are any rumours of a rate hike then you could potentially see some Canadian Dollar Strength. I think a rate rise is unlikely so it will be down to investor sentiment that will drive the currency. With rates back up recently you may find that now is a good time to secure your Canadian Dollars before we see a potential dip again back down to the 1.56 mark. We have lots of different options that may be ideal for your requirement. Please contact me at bma@currencies.co.uk to discuss how we may be able to make you a saving on your exchange.
