STERLING SPIKING – Opportunity

Sterling exchange rates have been very changeable this week with opportunities present.  I think all are aware that the general trend for GBPEUR levels have been negative making buying foreign currency more expensive.  This has been driven by a number of factors including the BREXIT, the slowdown in the UK and indeed the ever improving economy in Europe.  This negative trend is widely expected to continue generally making buying the euro more expensive.  In a similar way that we saw rates of exchange drop nearly 10 cents when the Scottish referendum rates of exchange are expected to continue to fall in the build up to the Brexit vote only 11 weeks away – saying that however rates never move in a straight line, so timing a transfer remains key.

This such opportunity came yesterday and we are still having the advantage. This from the UK Inflation data which was released showing an improvement. This came following the early Easter which pushed up travel costs resulting in the gains.

If you are in the market and cannot move today, Thursday will probably be the day.

If you are a euro seller and buying Sterling this afternoon will probably be the best you will see this week.

Generally you need to have a very strong argument to want to wait to buy your euros.

For more information, live prices or indeed to register for SPIKE NOTIFICATIONS please contact myself Steve Eakins at [email protected]