Will the Euro gain strength?

GBP EUR Slumps with Lower GDP Print

Regular readers will be aware that the euro is falling significantly and the outlook show no signs of improving. As a result people with euros to sell are getting increasingly anxious. Many people that have euros are rushing to sell, cutting loses for the benefit of knowing that they can’t lose any more.

Q. So what do you do it you don’t have the euros yet?

A. Well the answer is a FORWARD CONTRACT.

This option allows you to lock in the exchange rate even if you don’t have the funds available, a deposit has to be available in any currency equal to 10% of the contract, but you can lock in rates before you lose anything more. This is a solution that many clients have been using recently and many have already saved money. For example when comparing selling €200,000 today and buying GBP 7 days ago you would have lost £2,100, 14 days ago you would have lost £3,500, and 3 weeks ago almost £6,000. Many can understand that it takes a long time to earn, pay tax and save this money and with rates continuing to fall it seems a very easy decision….

If you would like more information on how to utilise this option or to review your situation and timing to trade, feel free to contact me directly on email  [email protected]