The Pound once again had a terrible week against the Euro and indeed the majority of major currencies as bad new continued to come out for the U.K in terms of economic data and indeed well known high street stores going into difficulty.
Personally, i’m not worries about the stores that have found trouble as I believe if you look at each one individually none of them have actually moved with the times quick enough and got involved in the ever changing technology that you need to offer as a business in these times to make life easy for the consumer.
The real worry is the mountain of poor economic data we have had so far this year, everything is now pointing towards poor GDP (Gross Domestic Product) figures this week which could (although probably expected now) give us a further kick whilst we are down and will also get the media back on to the ‘Triple dip recession’ bandwagon!
The Euro however seems to be ever popular and bond auctions are surprising everyone at the moment as they are showing a great demand, i’m not sure what these high end investors know that I don’t but i’m fairly sure my money wouldn’t be going anywhere near Spanish or Italian bonds – I would rather put the money on the Grand National! Either way people are investing in the Euro and in turn it is gathering strength rapidly, with the head of the European Central Bank also seemingly confident (or at least showing confidence in his speeches) there could still be a little way to go for this trend.
Be warned however as members of the European Central Bank are starting to become concerned at the value of the Euro so I wouldn’t expect to see much more strength myself – I can only say what I would do if I had Euros to sell and I would be fairly tempted to get something booked out reasonably soon to take advantage of such a great movement in your favour.
If you have a pending currency requirement involving either buying or selling the Pound against any major currency then I can help you personally, the company I trade for has won numerous awards for exchange rates and you get to deal with me personally so not only do you get the rates but the knowledge to help you make your decision.
Feel free to contact me directly on [email protected] with a brief description of your requirements and a contact number and I will call you back wherever you are in the world at a convenient time. If you find our information on this site useful and feel that you aren’t getting the very highest level of service along with the best rates of exchange from your bank or current broker then why not contact me to compare – It won’t cost you a thing and you have nothing to lose!
Enjoy the rest of your weekend, i’m off to shovel the snow off of my driveway! 🙁