The question all clients are asking that need to buy euros this year, os whether to buy now or wait for the tides to turn? Quite simply my strategy would be to buy sooner rather than later.
There are 3 main reasons for GBPEUR continuing to slide:
- Last week the Bank of England cut growth forecasts and confirmed an interest rate hike is off the cards this year.
- The US have indicated they also wont be raising interest rates this year and we therefore saw a mass sell off of USD to buy Euros.
- China is continuing to struggle therefore the commodity currencies surrounding China have unwound their carry trades and invested back into the euros.
It’s important when trading currency you analyse both of the currencies in question. If you have an upcoming currency transfer to make this week, month or year I would recommend emailing me with the currency pair (GBP/USD, GBP/EUR, GBP/AUD etc) and your individual requirement (buying a property abroad, paying a company invoice) and I will personally respond to you with my forecast and the process of using our company.
Quite simply we can give you economic information to help you time your transfer and can also offer you a better exchange rate than what you would receive with your bank and other brokerages. This can be anywhere between 1-5%. My direct email is [email protected] Dayle Littlejohn. Alternatively call me Monday morning on 0044 1494 787 478 and ask to be put through to Dayle Littlejohn.
If you would simply like a comparison against your provider email me with the exact figures, time scales and the best number to contact you on and I will call you with our live buying price. This will take 2 minutes and could save you thousands!
