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sterling spikes to a two week high against the Euro. Best buying Euro rates for two weeks.
Sterling exchange rates strengthened to over a two week high against the Euro today spiking at 1.2599. This is an excellent gain from 1.2330 that the pound weakened down to two weeks ago.
It is amazing at how quickly confidence can flow in and out of the Euro zone. At the beginning of the month the Euro significantly strengthened on the back of the European Central banks (ECB)announcement at their last interest rate decision that they will buy unlimited bonds to help keep borrowing costs down for vulnerable Euro countries. (this was an excellent time for clients looking at selling Euros)
Now the uncertainty has come back over whether Spain will seek a bailout and concerns about Greece’s failure to hit the targets of its own international rescue has caused the Euro to fall once more. The announcement that the ECB was going to buy unlimited bonds did give the Euro some relief but it has certainly not solved the Euro crisis. If you are still sitting on Euros have not exchanged them yet then I would highly recommend getting in contact with us. We can offer you the facility to place limit and stop loss orders to really try and help you maximise your exchange while limiting your losses.
The volatility in the exchange rate recently goes to show how quickly GBP/EUR can move in one direction or the other very quickly. With little data out of the UK this week all eyes are on Europe and announcement’s from Germany.
I am happy to be your eyes and ears on the market to try and help you maximise your exchange rate. I offer my clients a very personal service to try and help you maximise your exchange while taking away exchange rate fluctuations depending on your circumstances. If I know what your requirement is I will keep you posted on all the market movements. If you have a requirement to buy or sell the Euro please do contact me with your requirement and I will explain all the options that are available to you. You may email me at [email protected] and I will come back to you as soon as possible.
Ben Amrany
2012-09-26 01:21:06
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