Sterling/Euro has moved well under the 1.30 mark and looks to be there to stay for the foreseeable future. The trade balance figures earlier this week caused a fast drop that Sterling has not been able to recover from. If you are looking to purchase Euro’s a 1.28 could potentially be your best point to trade. There are EU figures being released today which could put more pressure onto the GBP/EURO rate potentially driving it below 1.25.
ECB president Mario Draghi will be speaking on Monday and in the past when he speaks there tends to be movement against Sterling. Baring this in mind if you’re purchasing Euro’s doing so this morning will allow you to know what you have before the market starts to move over the coming days. If you hold a Euro position this afternoon or Monday may present a great window to trade your money back to Sterling.
Please contact me if you would like to find out any further information regarding Pounds and Euros. I am happy to provide you with information that will allow you to make the most informed decision when changing currencies. No matter how small the transaction there is always money to be saved by making a well-timed and educated decision. If you would like to get in touch please contact me Ben Fletcher at [email protected] and hopefully I can be off assistance to you.