GBPEUR rates have swung wildly over the last 36 hours after a surprising amount of end of month traffic. At the end of the month equity traders need to take margin and re-balance their investments for the next month so there is an inflated amount of money being exchanged which in turn can have a large effect on the strength of currencies. In May there was an abnormally large difference from the gains and losses on stock markets between Europe and the US. This resulted in a large amount of dollars being bought for this month’s investments and it was this additional demand that pushed the dollar to its strongest point in in nearly 2 years against the pound. The Euro also gained on this news as investors believe the volatility in Europe may provide some quick bucks.
This abnormal movement recently is a kind reminder that the markets will continue to surprise and it is often the people that wait that miss out. We provide a pro-active service that many have benefited from today taking good gains. If you are in the position of needing to complete a money transfer, or would like to review your current provider contact us today to see if we can help. In each case our pro-active service can include creating a strategy to help time your transfers over the up and coming economical events. Contact us today on 01494 787 478 or email me directly at [email protected]