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Recent History Suggests Continued EUR Strength is Not a Certainty
As EU leaders breath a sigh of relief and the EUR continues to strengthen against GBP and the USD, it is worth heeding a word of caution. Mario Draghi’s recent announcement may have brought some stability back to the markets but the eurozone and its recent history suggest it is nothing if not unpredictable and whilst the dark clouds of Spain and Greece (amongst others) hang over the region, I do not believe the statement ‘beware the ides of March’ is quite fitting.
12 months ago analysts from some of the world’s laregst and respected corporations were predicting parity on GBP/EUR by the end of this year. Fast forward 9 months and the same analysts were predicting 1.30, proof that the currency markets are forever evolving and why its so important to have a personal currency broker who can keep you updated with all the latest market movements during these volatile times.
Personally I feel GBP/EUR rates will be heading towards 1.22 unless there is a major shift in momentum and public perception over the coming weeks and EUR/USD levels will push on through 1.30.
This market uncertainty can be difficult to digest, especially if you have an upcoming property purchase or sale and are looking to transfer funds but are worried that market movements will ultimately leave you short changed. Here at
Foreign Currency Direct plc we have multiple contract types all tailored specifically towards our clients needs. One of our most popular types is our forward contract, which allows you to lock in an exchange rate even if you do
not have the full funds available. This is perfect for anyone looking to eliminate risk from the market but still take advantage of our award winning rates. If you would like more information please contact me directly at [email protected].
2012-09-14 14:00:31
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