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GBPEUR rates falling – 3 month LOW (Steve Eakins)
As mentioned in the last few blogs the story in Europe is creating a change in forecasts and costs for people looking at buying euros or selling euros. A majority of this change has come from Spain, the thorn in Europe’s side as a bailout looms. Europe holds yet another meeting in Brussels over the next 2 days and the speculation that Spain is edging closer to some form of bailout has again changed rates.
I appreciate it may sound beware that Europe need a bailout and as a result they are strengthening. The simply reason behind this that the market estimates that without a bailout Europe could really have problems and theoretically split up. Now that a bailout is closer and on the assumption it goes through it makes it a lot more likely that Europe with continue as we know it.
So GBPEUR rates have fallen back to 1.23, over 2.5% in the last month and an additional cost for euro buyers of £4,125 when needing to buy €200,000. This just goes to show again that “more is lost through in-decision than the wrong decision.” So the next question:
What do I buy euros? and, When do I sell euros?
This is a difficult question to ask as no one has a crystal ball but I am sure that rates will move by 1% in the next 3 days due to the meeting Brussels and China GDP figures on Thursday morning. (Each cent on a £200,000 purchase of euros gives you €2,500 more or less to your
purchase.) It will come down to your risk appetite and as everyone has different amounts to move, time frames when they have to move by and risk appetite, I would suggest getting in contact as I can easily create a suggested strategy for you in your own situation. [email protected])
Generally however I would suggest making you mind up rather quickly if you need to move before the end of the month as the movement over the next few days could easily become the trend until next month.
If I was a buyer I would limit exposure and buy asap, if I was a seller I would be ready to move very quickly.
Here we have been helping people move funds internationally for over 12 years. You can open an account in a few minutes and have traded normally within 20 minutes. So if you are readying this with interest or want to check your exchange rates from your current provider, please contact us today. Simply put if we could not save you money compared to your bank we would not be in business!
Thank you,
Steve Eakins
2012-10-17 08:00:10
Source: http://www.poundsterlingforecast.com/2012/10/17/gbpeur-rates-falling-%e2%80%93-3-month-low-steve/
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