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GBPEUR rates fall further, what will you do?
Good Evening Readers,
I hope you are well and if in the UK are enjoying the onset of winter. If you are one of our many overseas readers I hope that unsurprising knowledge puts a smile on your face. Tis grey skies and rain a plenty in good ‘ol blighty. But hey at least it is only 8 months to June. And I did read that colder weather in winter is good news for UK summers, as a colder Atlantic throughout winter affects the jet stream creating warmer and drier UK summers. It surely couldn’t get much wetter than we have seen this year. Predicting the weather is of course like guessing currency movements. You never quite know what will happen…
One of the most dangerous things when moving money internationally is to take an exchange rate for granted or neglect to prepare for the worst. All too often I have clients who assume that just because we are seeing riots in Greece on the news, that suddenly GBPEUR will go up to 1.30. Movements in the last two weeks show how dangerous it is to gamble and hope that the market will magically go your way. It never fails to surprise me the way some people will happily gamble their life savings hoping for an exchange rate to move back in their favour when it is clearly going against them.
Getting the best exchange rate is about managing your risk correctly. And in some cases that may mean trading at a level you previously thought was unacceptable. In my role as a specialist currency broker I can highlight market movements and the underlying market conditions to enable you to make an informed choice.
The recent GBPEUR movements are of course great news for sellers and as we correctly highlighted recently anyone with an interest in selling Euros may be better off holding on to see what happens. Indeed there are still two major events this month that anyone selling Euros or indeed buying Euros should be aware of. These are next Wednesday’s Bank of England Minutes and the UK GDP (Gross Domestic Product) results for Q3 on the 25th. If you believe that we are destined to go back to 1.30 I would be very interested to speak with you to discuss why this is highly unlikely.
‘I personally feel that the pound will come under more pressure and that anyone kicking themselves for not buying Euros at 1.26 or 1.25, may soon be cursing for not having traded at 1.24 or 1.23′
To ensure you get the best exchange rate it really is worth your while to speak to an expert to find out all the information on what is driving your exchange rate as well as be kept up to date on when things change. In my role as a currency specialist at one of the UK’s leading currency brokerages I can provide insight and analysis to allow you to make an informed decision.
If you are considering any currency exchanges involving the Euro or indeed any other currency, please feel free to speak directly with me Jonathan Watson on 01494 787 478 or [email protected]
Thank you,
2012-10-08 23:20:18
Source: http://www.eurorateforecast.com/2012/10/08/gbpeur-rates-fall-further/
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