As predicted in my post from over the weekend the Pound has touched briefly at 1.10 on the Interbank level creating some good short term opportunities for anyone looking to buy Euros with Pounds. However, I think the gains will be limited.
Economic data has been thin on the ground today with all eyes due to be focused on what happens tomorrow with the latest release of the UK’s Consumer Price Index which is a measure of inflation levels.
Rising inflation has been a big concern for the Bank of England and it could be argued that inflation has been rising owing to the reduced value of Sterling vs both the Euro and the US Dollar which has caused the costs of goods to rise.
On Wednesday both UK unemployment figures as well as the latest Average Earnings figures are also due out.
There is currently a disparity between inflation and Average Earnings so we could see a lot of volatility for Sterling exchange rates coming over the next few days so make sure you’re ready to move quickly if necessary.
For a free quote then call me directly on 01494787478 and ask for Tom Holian when calling in.
If you have a currency exchange to carry out in the coming days, weeks or months then you are more than welcome to speak with me directly as I will be more than happy to help you both with trying to time a transaction and getting you the top market rate when you do come to buy your currency.
A small improvement in a rate of exchange can make a huge difference so for the sake of taking two minutes to email me you may find you save yourself hundreds if not thousands of Pounds. You can email me (Tom Holian) on email@example.com and I will endeavour to get back to you as soon as I can.