Euro declines over the weekend, New Zealand Dollar also weakens following wide trade deficit

The Euro saw an extremely sharp slump over the weekend following concerns that the Eurozone still just cannot cope with this dramatic debt crisis.

Yesterday (usually a typically quiet day on the market) Sawa huge spike in the GBP/EUR pairing, momentarily up to the late 1.16s, by open this morning rates had headed right down to 1.15 again, however we did see another minor spike in the afternoon, certainly proof once again that you need to bwe on the ball in these volatile times!

The NZD also took quite a hit overnight folllowing a much wider than expenceted trade deficit figure, raising alarms that that maybe the economies over that way are starting to feel the pressure slightly?!

Plenty to come tomorrow i’m sure, the week ahead and indeed the weeks ahead are guaranteed to be rocky for all with a currency transfer to carry out, feel free to get in touch to discuss your specific situation.