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GBP-EUR Best Rates – 1.37 still holding after being tested during the morning trading session. (Joshua Privett)
No ground was gained today in total, but it was regained after the Euro rallied back against Sterling this morning.
Even strong data coming out of the German economy wasn’t enough to encourage the market movements everyone was expecting.
What we currently have is a very agitated investment base in the Euro. Those who wanted to get out and were expecting the Euro to rally more, are cutting their losses. With the move half-a-cent in the favour many took it. The reminder yesterday that a strong American Dollar can have a disproportionate affect on the value of the Euro, seeing it crash further, meant many investors already cornered into an impossible decision, took the chance while the rates were there.
They bit the bullet and took these rates with the hope of future profits when interest rates are raised there first.
The pull-back expected once an agreement with Greece was already lessened by the fact that no agreement was really made, just pushed back by 4 months. Furthermore, any signs of a Euro rally are immediately jumped on before the rally can really mature. Those selling Euros should still try and take advantage of this if they can, we could see a further fall-back at the start of this week. But it seems in the short-term we may be holding ground in 1.37 until the start of trading on Monday.
If you have a currency requirement and what a competitive quote, or some advice in this still volatile atmosphere, then call through to the trading before the end of trading today on 01494 725353 and ask for Joshua, or email me on [email protected] over the weekend and I can get back to you for some more tailored advice.
Source: http://www.eurorateforecast.com/2015/02/27/gbp-eur-best-rates-1-37-still-holding-after-being-tested-during-the-morning-trading-session-joshua-privett/
