Daily Archives: July 5, 2012
Sterling Euro rate creeping up to four year record
Following an interest rate cut by the European Central Bank the Euro has taken a further tumble and is closing in on a four year record low against Sterling.
The Bank of England did indeed increse their Quantitative Easing programme by 50 billion however this was widely expected therefore did not actually drop the Pound too much initially.
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Big day on the currency markets with the release of the Bank of England and ECB Interest rate decision.
Today, potentially more than most, is set to be a very busy day on the currency markets with the release of the Bank of England and European Central Banks interest rate decision. Expectations are for a rate hold in the UK and a chance of a rate cut by Mario Draghi (head of the ECB) for Europe, bringing the base rate below 1% for the first time in its history. This could well cause the Euro to weaken following the release, however prior to this there is a real chance Draghi’s counterpart, Mervyn King, could introduce further quantitative easing. Should this be the case this could counteract any Euro losses with a significant move for the pound, and a negative one at that. Anyone with an upcoming requirement may do well to avoid these two releases as I personally feel some large movements will be seen and I am expecting a very volatile day.
As a specialist currency broker we have multiple tools that private and corporate clients can utilise to safeguard their exchange. As one of our clients you will be given access to live market prices and given up to date market knowledge and data that may affect your currency exchange. Whether that be through continuing to follow this website or utilising some of our other websites www.eurorateforecast.com and www.australiandollarforecast.com to name just a few, then why not activate a free no obligation account? I have many clients that benefit from the service and appreciate the market knowledge that using a specialist broker provides, we are more than happy to speak with you on a one to one basis and run though the various options and contract types that we can offer to help you make an informed decision as when is best to trade. To benefit from the service and to run through the service in detail then please contact Mike at mgv@currencies.co.uk
