Over the last few weeks regular readers will remember that we have been highlighting that even through GBPEUR reached a 4 year high, the UK Economy is not doing well. We have seen nuggets of economic data over the last few weeks that have lead us to this assumption and this was proven again by data that will be widely published by media today. This the news that the UK GDP figures showed that the DOUBLE DIP RECESSION is deeper than initially expected. It is only the UK and Italy who have re-entered a recession in Europe. The statistics is not great reader for people with Pounds to sell as it shows the longest double dip for 50 years. (figures below may help.)
My thoughts and predictions on the markets however is that with the European crises as risky as it is I would imagine these losses will be eaten up. Meaning if you are selling euros I would move quickly, for buyers of the euro I would hold out on the hope it will climb back up again.
Don’t forget if you don’t have access to the full funds a FORWARD Contract might be the right thing for you. For more information please read my Last blog
Otherwise if you would like more information about when to time your transfer – feel free to contact me directly at [email protected] or Ring 0044 (0)1494 – 787 478 and ask for me Steve Eakins