The pound has today recovered its losses against the Euro from yesterday when GBP/EUR hit a low of 1.2520. Current rates have just spiked to 1.2624 as there is a lot of selling pressure on the Euro due to teh positive data to have come out of the US economy. It seems that there is a movement out of the Euro at the moment which is weakening it across the board after yesterdays gains.
The rest of the week could provide a similar theme with a host of manufacturing & house price daata out of the UK which is meant to be positive along with a host of data out of Germany, Italy and Greece which could reap further pressure on the Euro. Our target level for GBP/EUR is 1.2650 and potentially 1.27 should the ECB announce any further easing at their interest rate decision on Thursday.
If you are looking at selling the Euro to buy sterling I would be acting sooner rather than later if you did not catch the spike in yoru favour yesterday. Here I can help you try and time your exchange while offering a better rate than trading through the high street banks. Savings can be up to 4% better and when you are exchanging thousands of pounds this saving makes a huge different.
If you have a requirement then please do feel free to email myself Ben Amrany at [email protected] and I will explain the options available to you to try and help you maximise yoru conversion.
Thank you for reading.