Yet another week goes by and once again Euro news has been in the headlines… Yes for sure there is just so much trouble within Europe and without a doubt 2012 will see some changes that have never been seen before but I cannot see that even if there is a decision to dissolve the Euro it will be done at a great pace.
When a country has moved to join the Euro in the past, it takes months and years for the powers that be to track exchange rates between the two currencies and to decide on a correct and fair level to peg the currencies at, this is why we always know well in advance that a country is going to join, yet have no idea what the pegged level will be.
In my opinion this matter alone will keep a potential break up from happening for a long time as ministers and members within Europe will not be able to just decide on exchange rates for Germany, Greece, Italy and so on overnight, it will take a huge amount of work and a lot of arguments to come up with a result that is fair for all.
Regarding selling Euros, if you are currently holding funds in Euros then I would start to become very tempted to look at converting your money back into whichever currency you will eventually need them in. There is indeed no smoke without fire, I am aware that the Euro has indeeed been on the ropes for the last few years now and managed to stay on its feet, however on pretty much a daily basis something new is in the papers, another summit is announced to find a solution to the problems or more money is injected into particular economies or funds to keep things afloat.
Sterling Euros rates have been stuck in the same range of 1.1550 to 1.1770 for the past few weeks and I believe investors are sitting back awaiting the next piece of large news – more than likely although the U.K has plenty of problems this will be something negative for the Euto that tips the balance slightly… Of course anything can happen so I may be wrong, but I feel the Euro at the moment is a ticking timebomb and everything could hit the fan at any moment over the next few months.
If you are worried about what to do I can assist you, not only by getting you the best rate of exchange when you convert your Euros but with a number of tools we have available in the market inclusive of Forward contracts (locking in to a rate of exchange for anything up to two years in advance – ideal for pending property sales and businesses) stop loss and limit orders, tools allowing you to aim at a particular rate or set a worst case scenario rate with these automatic triggers that work 24 hours a day 7 days a week at no extra cost to you.
Should you want a further explanation on how these work, or indeed want to discuss a potential transfer for you or your company (bank to bank transfers only) then do feel free to contact me, the owner and main writer on this site – Daniel Wright on firstname.lastname@example.org and I shall be more than happy to assist you with whatever your requirements are.