If you are a private or corporate client and need to buy Euros now may be a wise time with sterling at a 10 month high!!!

RATE ALERT GBP/EUR AT 10 MONTH HIGH

This morning sterling exchange rates have risen to a 10 month high against the Euro spiking up to 1.1915. We have seen some excellent gains over the last two trading days and these have been some of the busiest on the trading floor for a while. If you are looking at buying Euros I feel there will be some excellent buying opportunities as we head towards the Christmas period. Please email me at [email protected] to discuss your requirement and the options that are available to you.

The Euro at present is weakening at an alarming pace against a range of currencies mainly attributed to the poor reaction to last week’s EU summit.  In the run up to Christmas we may see this trend continue but I firmly believe that 1.20 will be some sort of resistance level.

The markets have been focusing too heavily on events in Europe and we should not forget the underlying issues that surround the UK economy. With growth forecasts down, interest rates look like they will stay at 0.5% for the foreseeable future and unemployment rising, next year may be a rocky road for the UK economy. With retail figures due out this week, if the data release is not so  positive then we may see a slight rebound for the Euro. If you are continuing to hold out for higher levels you do run the risk of missing this positive movement for sterling which could make a significant difference on your purchase.

Due to the uncertainty that is around at present you would be very brave to not capitalise on the current trading levels that are available. At the beginning of this year rates were at a similar level and the clients that held out for 1.20 have had to put their lives on hold for over a year now. Don’t let the same mistake happen to you.

Please feel free to contact me at [email protected]. I will be happy to help you with your conversion and we will give you our expert opinion on where we feel the rates of exchange may head in the future to help you minimise any potential losses. Once you have emailed me with your contact details and your exact requirement I will contact you to explain how you can benefit from our award winning rates.

 

I look forward to hearing from you.