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How long will GBP/EUR stay at 7 year highs? (Dayle Littlejohn)
Over the last few weeks we have seen GBP/ EUR reach the 1.38s. If you are looking to purchase Euros with Sterling, the question is do you buy now or wait to see if rates reach the 1.40s. Im of the opinion there is more chance of rates dropping back to the 1.34s then reaching the 1.40s and there are two main reasons for this.
Firstly GBP/EUR exchange rates have reached the 1.38s due to Greece revealing that they could leave the Eurozone if their current bailout agreement was not renegotiated. However last week Greece did not leave but bizarrely accepted to extend the bailout agreement by 4 months, which they said they would never do as the terms where unacceptable. This therefore in my eyes indicates Greece want to be part of the Euro and will do everything in there power to stay.
Secondly it’s in the best interest of the Eurozone for Greece to stay. With strong austerity measures on countries such as Spain and Portugal if they see Greece leave and cope, we could see these 2 countries follow suit. In my opinion that would be the start of the end for the Euro, something that Germany in particular will not allow to arise.
Therefore I believe these are the best rates we are going to see so anybody looking to purchase Euros should buy sooner rather than later. If you are looking for further professional advice and want award winning exchange rates feel free to email me on [email protected] or alternatively call the trading floor directly and ask for Dayle on 01494 787 478.
Source: http://www.poundsterlingforecast.com/2015/03/02/how-long-will-gbpeur-stay-at-7-year-highs-dayle-littlejohn/
