The Euro has continued to gain on the pound this morning leading to a rise for the Euro of 2.04% since last Thursday. This is a significant loss for those of you looking at buying the Euro with your sterling but great of you are selling Euros at the moment. This morning there were comments out in Portugal stating they will not be restructuring their debt and this seems to have given further support to the single currency.
The ECB monthly report will be out tomorrow morning at 9.00 am and this will be the key release for the next day or so. If the ECB go some way to continue to talk up the economy as they did during last weeks interest rate decision a move for GBP/EUR could dip into the 1.18′s if sterling is not careful. This would be one of the biggest one week losses for the pound for sometime. If you are selling your Euros then this would be a welcome gain after the Euro has been hit very hard throughout the start of 2014.
I have said over and over that every time the pound has tried to breach that difficult 1.22 level against the Euro, something occurs which causes sterling to weaken. My recommendations from here on is to act on any spike that may occur and don’t take to much of a risk if your exchange and transfer has to be done in the very near future. If you have time on your side I can discuss the best options that suit your individual circumstances.
If you require an exchange then I can help you beat the rates of exchanges that your banks offer you by sometimes up to 4%. As well as offering a very personal service to give you the information needed to help you judge when you should do your exchange there are not many services out there like ours. If you wish to discuss your requirement in more detail feel free to call the number on this page and ask for myself Ben Amrany. Alternatively you may email me at [email protected]
If you are in the situation needing to move money internationally and looking for the best price – please feel free to contact the author – Ben Amrany – via the telephone number at the top of the page or via email at [email protected]