The Sterling Euro rate this morning has already moved a 1% in a few hours. The Eurogroup which is attended by the Head of the Bank and the Finance Minister of each member state will meet today and may give some indication to the future plans. Greece is one of the topics today as the debt there has not reduced and the method to re-cooperate their loans will be discussed.
Yesterday Janet Yellen who is head of the Federal Reserve in America suggested that despite volatile markets and external factors, U.S economic growth would allow the FED to increase interest rates in the coming months. This encourages investors that the U.S is a good place to put their money as they have a better opportunity to receive returns. This in turn reduces the money invested elsewhere causing other areas to weaken.
If you are looking to purchase Euro’s today you might want to consider that Sterling is potentially going to weaken so looking to trade soon could make you a significant saving. If you are holding Euro’s and looking to buy Sterling you have the best rate in over a year.
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.