Whilst in London we are seeing scenes of pure disgrace on the streets, the world is facing some serious and extremely worrying times ahead and today it was the turn of the European Central Bank to step forward and take the limelight with their announcement that they will be buying large amounts of Spanish and Italian debt in another step to try and stop the next level of economies involved with the Euro climbing aboard the next train to bailout central station – A very dark and gloomy place full of angry Germans!
This led to another dire day on the stock markets and somehow overshadowed the downgrading of the U.S credit rating by S & P. I personally thought I would wake up to see major Dollar weakness today, however some quick talking from high profile figures has meant that maybe S & P were a little too quick to judge and although in truth the States are in trouble and have one hell of a battle on their hands – A downgrade is not something they should be receiving at this stage in many peoples eyes.
Currency markets are so hard to judge at the moment because in all honesty you just do not know what is coming next and from which direction, trying to judge them is probably the same as being a policeman in full riot gear in London tryingto work out where the next rock is coming from – a horrible situation to be in and not one to gamble on.
Whatever currency you need to transfer there are ways to protect yourself, you can place a limit order or stop loss order to ensure you don’t wake up to the nasty surprise that the property you are buying abroad has become 4% more expensive. These tools work 24 hours a day and cost nothing to place, they can be cancelled, changed or amended as you please assuming they have not filled and just give you the peace of mind you aren’t going to get a shock at the next stop of this financial jorney the world is going on right now.
Contact me directly [email protected] or fill in the enquiry form if you have an upcoming transfer to carry out and are worried yourself as to what to do and I will be happy to explain the options available and how to go about them.