Today the ECB cut rates by 0.25% to bring them back to being level with the U.K. This had been widely expected so it didn’t lead to a huge amount of Euro weakness however, in the last 48 hours GBP-EUR rates have indeed shifted up and are nearing a 10 month high for those looking to buy Euros.
The big question on all of my clients lips at the moment (especially those in the middle of a property purchase overseas) is – What shall I do with my money?
The ‘million Euro question’ has no right answer at the moment as I don’t believe anyone really knows what might be around the corner next…. My personal opinion is not to get too carried away and too greedy, over the last two years I have seen dozens of clients get greedy when rates are going the right way only to see them turn against them drastically and their purchase become more expensive than they even originally budgeted for.
With the risk of sounding like a game show host – Why not at least consider banking half of your currency at a good rate while it is this high, then waiting to see what else happens for your other half. At least then all of your eggs are not in one basket and you have the chance still to take advantage if rates get better yet you do not kick yourself if they should drop away.
Feel free to get in touch with me directly email@example.com if you would like a chat surrounding a potential trade be it buying or selling Euros, or indeed any other currency and I shall be happy to help.