GBPEUR rates have dropped this week already, a fall was seen this morning of over 0.5 cents. This was down to the Scottish vote that has now started to have an impact on the exchange rates. My view is that levels will remain volatile and therefore provide opportunities for the well informed. If I was buying euros this week I would hold until Thursday when the European central bank meeting take place. There seems to be a building pressure on the central bankers there to introduce new policies to create growth and if confirmed or even the intention is greater confirmed, the euro will weaken giving buyers a better price.
For euro sellers I would move today after the surprising Scottish vote trend which created the Sterling weakness.
We also have US data on Friday which could create some movement at the end of the week.
Longer term I would continue to watch out for the Scottish vote, as this comes closer the polls will probably have a larger impact on market value. So if you have a position to secure make sure you register your interest via email at [email protected] This allows you to utilise the tools on offer including RATE ALERTS and SPIKE NOTIFICATIONS.
Look forward to hearing from you.