GBPEUR rates have rallied today over a month high on the back of better than expected data from the US. Some are suggesting that the data has been lifted in the run up to the election, but as the data shows a better picture for the US, risk appetite builds. So traders in the market have been happier to take risk and have been buying riskier currencies. This change in habits has created strength for the likes of the NZD, AUD and GBP.
In summary this week GBPEUR rates has had a high/low movement of 1%, resulting in an extra cost of over £2,000 on a €200,000 purchase. Even though this sounds like a lot, this week has actually had a smaller FX range than the last 3. Next week many experts predict a range closer to 2.5%, so anyone with a euro need should note that buying poorly in the next 7 days could cost you an additional £5,000 compared to buying €200,000 well.
Here we actively provide a pro-active service aimed at helping assist our clients do exactly that. Next week we have a host of data ranging from Interest rate decisions, Quantitative Easing announcement, EU Greek meetings, and Industry figures to name just a few. So if you are in the currency market please become a regular visitor for free information. If you would like to experience our service and why we have been given a number of awards for both our service plus rates of exchange feel free to contact us on the normal number or at [email protected]
Either way I hope we can help.
Look forward to hearing from you,