Sterling Euro falling from 16 month high (Tom Holian)

Sterling Euro exchange rates have started to fall from the recent 16 month highs owing to a small amount of positive Eurozone data out earlier today.

When exchange rates hit highs they often do not last too long and I think that speculators are taking advantage of the recent highs and are now selling off Sterling.

Nationwide has claimed that the UK housing market is due for a correction after an 8% rise over the last 12 months for the UK. Personally, I feel that the housing market has further to go in terms of higher prices before things begin to slow down. The property market is generally fueled by what happens in London initially which is then felt further afield.

The Bank of England could take steps to limit the amount of available mortgages and potentially increase loan to values to stop the rampant market but that is likely to be a few months away.

If you have a currency transfer to make and want to save money on exchange rates compared to using a bank then contact me directly Tom Holian [email protected]