GBP EUR Slumps Despite Higher UK Employment

Yesterdays GBP figures for the UK showed that the UK economy grew at its fastest pace for years creating real strength for the Pound. It pushed GBPEUR rates up once more towards highs not seen since the beginning of the year giving people who missed the opportunity 3 weeks ago a further opportunity.  Rates now sit yet over 1.20 and could potentiality push a little further tomorrow morning.

however beware tomorrow as with so much movement over the month I expect some large amounts of PROFIT TAKING across the board on the last day of the month.  This is when traders sell off their positions to recognise the profits made and can easily more markets. December is also the month when a majority of farmers get their single farm payment from the EU meaning there will be a large amount of money moved from one currency to the other, this again can artificially move markets. In both scenarios rates could SPIKE and create a fresh high or save sellers from the trend we are seeing.  It will be these SPIKES that will give the best prices in the market for your currency transfer.

Here along with our award winning service and exchange rates, we offer SPIKE NOTIFICATIONS. These allow us to inform you when rate smove so you can make an educated decision.  If this is something of interest please regester your interest via email at [email protected]

For more information please contact the author STEVE EAKINS via email at [email protected] or by using the number at the top of this site.