Markets seemed to have calmed down by the end of the week. Starting with the Greek election, a week with so much expectation seemed to become largely uneventful. The standard positive and negative movement we’re causing heart attacks to traders used to such movements continuing.
There is apparently a lot more room for these rates to go in the other direction. As the post below notes, stability can be the ‘calm before the storm’. With the current situation in the Eurzone, this is certainly an apt metaphor.
Those that continued to wait for the rates to rise have not been rewarded. I have talked with numerous market participants today who asked if the rates would return to 1.34? These same people just 4 days ago we’re saying they would be holidng out for 1.36
Historically, these current rates are fantastic, and with the current data coming out of the UK economy, gift-wrapped. If you are looking to purchase Euro’s at some point in 2015, in this scenario where the rates have now stopped climbing, I could not recommend a forward agreement more. We peg the rates for up to 12 months, which you can complete whenever this suits you. This allows you to budget effectively even in a volatile environment, and make sure you arent left exposed to a markets this year.
Email me on [email protected] over the weekend for a more personal appraisal of your needs and your current situation