The implications the ongoing tensions in Syria could have on the currency markets should not be underestimated and could, in my view, create significant volatility for all major currencies. During times of uncertainty you can see some significant swings in favour of the so called ‘safe haven’ currencies such as the US dollar and historically the CHF. Should you have an upcoming exchange to arrange and you would like to discuss the current market trends then contact the office on 01494 787478 or email Mike at email@example.com
For me much of the short term trends will hinge on the outcome to the Syria conflict. Russia, China and Iran have previously warned against launching an attack on the war-ravaged country, where more than 100,000 people are thought to have died in two years of fighting. Powers that be in in Iran warned on Wednesday that US intervention would be a “disaster” for the region. Any intervention may also cause some significant shifts in the currency markets and in particular we may see a shift in favour of the dollar due its ‘safe haven’ tag.
In times of political and economic unrest often investors will look to the most commonly traded currency in the world as a safe destination for their investment. This could cause a significant increase in demand for the USD which in turn will increase the value for the dollar, potentially good news for sellers but anyone buying dollars may wish to look at their options.
Sterling has recently had a strong run against the Loonie (Canadian Dollar) gaining in excess of 5.5% throughout the month of August hitting a high of 1.6495 on Friday last week.
Since then the CAD has recovered in excess of three cents. With Canada a net exporter of oil the value of the CAD can be heavily influenced by the price of oil. With oil prices at a two year high, partly due to the tension in the Middle East, this trend may well continue, therefore to me the current buy value of the CAD should be viewed as an opportunity.
Should you wish to discuss an upcoming currency exchange you are looking to arrange and would like to know how the currency service we provide operates then please get in touch. We are simply here to help our clients maximise their exchange and better prices offered by the high street banks and other financial institutions. To find out how we can help you with your currency exchange please contact the office on 01494 787478 or email Mike at firstname.lastname@example.org