GBPEUR rates falling again (Steve Eakins)

As mentioned in a few recent blogs the market is experiencing a volatile time currently. Over the last week we have seen two large spikes both for buyers and sellers.  Both of which were the biggest daily moves for over 7 months and created opportunities for those ready to move.  To put the movement into monetary value on a €200,000 purchase you could have saved or made £6,500 the equivalent to 2.75% when timing it right. On both occasions we were expecting movement and informed those clients that had registered their intentions. When the spikes came these clients were able to take advantage and save money on their respective exchanged.  It is a service that we have been providing for over 12 years helping our clients be aware of when to move funds while giving them access to our award winning exchange rates.  Simply put if we could not save you money on an exchange we would not be in business.

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Will the rates improve?

Well over the next 7 days we have key events from both Europe, the UK and US so I expect the volatile market conditions to continue meaning more spikes may be available before month end. Personally I have the view that GBPEUR rates will generally fall along with GBPUSD rates as data from the UK continue to show a bleak picture for the economy.  If you are interested in making sure you have the best price contact us for free information.

Thank you,

Steve Eakins