Good Morning Readers, I hope you are well.
Overnight we saw some exceptional volatility on GBPEUR as investors tried to second guess the outcome of the Italian elections. With no clear overall winner being established it looks like a deeply uncertain time again for Europe and hence the euro has weakened. GBPEUR saw yesterday a 3 cent movement from low to high!
What can we expect today? Well with the outlook very much uncertain as to the future direction now for Austerity in Europe it may be that we start to see the Euro significantly weaken. The deadlock in the Italian situation brings into questions whether or not austerity will prevail and whether in fact we could see politicians ousted and even Italy leaving the Euro.
Effectively one quarter of the vote was taken each by Bersani (centre left), Berlusconi (social democrat), Bepe Grillo (the comdeian) and the other quarter didn’t vote!
If you are looking at a transfer involving pounds and euros the current outlook is extremely uncertain. To have so much going on at the moment affecting both the pound and the euro is creating some excellent opportunities. As a specialist currency broker I can assist with knowledge on why rates are moving and assistance trading at the right time. For further information on how to trade at much better rates please contact me Jonathan on [email protected] or call 01494 787 478. I look forward to hearing from you.