Is now a good time to buy foreign currency with pounds?

GBP EUR Looks to Employment Figures for Support

GBPEUR Forecast – Will rates drop lower in April? Unlike the weather which remains as cold as a few weeks ago, the pound has shaken off some of the worst of this year. Concerns over Cyprus and the stability of euro zone banks, plus a slightly better performing pound indicate to me a fairly range bound few weeks of anywhere between 1.16 and 1.19. Significant gains for sterling look limited, as do significant gains for the euro. On balance I expect rates to be higher towards the end of the month as sterling slightly recovers and attention remains on the Euro zone economies.

What next for sterling? Will we triple dip? How can I protect myself? The next big event this month will be confirmation of whether or not the UK is in a triple dip recession. Numerous recent reports have hinted that the UK may have avoided the triple dip. I personally think this will be the case and we may see the pound find a bit of strength towards
the end of the month. If you are selling a foreign currency to buy pounds it may be prudent to act sooner rather than later. The New Zealand dollar is at close to all-time highs against sterling as are many other currencies. For more information to help you decide on when may be best to enter the market you can speak to our trading floor direct on UK Freephone 01494 787 478 and check live interbank rates
here.

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