Euro buyers should remember that GBP/EUR rates of exchange were 10 cents lower just 5 weeks ago.
The main force behind this rally for GBP/EUR has actually been events over in the USA.
The USD/EUR is the most heavily traded currency pair in the world by volume. This means that when one strengthens, the other loses value across the board.
The US has been the leading currency on the markets since the Summer, and this rally has gained value in earnest since the middle of October. This is due to more and more explicit hints of a pending interest rate hike in December. This will be the first of its kind in a major economy since the recession, which is why movements for the US Dollar is causing such monumental shifts for the value of the Euro as well.
A resistance level appears to have been hit at around 1.43 for GBP/EUR despite further hints that a rate hike all but certain for the start of December. This suggests the market is saturated, having already priced in the value of a rate hike, which means it is unlikely rates will continue to move in favour of buyers even if the rate hike is confirmed in December.
I strongly recommend that anyone with Euros to buy in the coming months should contact me on 01494 787 478 and ask the reception for Joshua to discuss a strategy to maximise any opportunities which present themselves between now and the final decision in December.
I am willing to supply a competitive quote on your GBP/EUR exchange, and I will remind our regular readers that we never have an issue beating the rates of exchange offered elsewhere.
Those with Euros to sell should do the same, and we can put a plan in place on how to maximise any future movements in your favour. These currently high buying rates for Euros are unsustainable in the short-term, and I can explain the options available to you to ride any favourable movements in your favour in the timeline you have to complete your transfer. [email protected]