Is this time to look at selling Euros? Will the Euro survive? Shall I sell My Euros? These are all questions I am now being asked on a daily basis… Here is my personal take on things

GBPCHF rates hit near 3-month highs

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 djw@currencies.co.uk and I shall be
more than happy to assist you with whatever your requirements are.