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Sterling set for uncertainty against the Euro (Tom Holian)
Sterling Euro exchange rates had a good week this week apart from the final trading session on Friday afternoon which saw a crash.
The Euro fought back against the US Dollar and also the Pound possibly due to profit-taking and the Euro providing resistance.
However, there are big problems behind the scenes with the Euro as we already know that the next Eurogroup meeting to be held on April 24th will see no deal for Greece and that rumours keep growing that they will run out of money in a few weeks.
Over the same period we have the UK general election and with no party yet close to forming a majority according to opinion polls this could result in a hung parliament and therefore another coalition government.
When this happened last time Sterling saw a steep fall against the Euro in a very short period and we could see history rewrite itself.
If you need to buy Euros it may be worth considering buying a forward contract which allows you to fix an exchange rate for the future and eliminate the risk of the market moving against you.
If you have a currency transfer and want to save money on exchange rates compared to using your bank then contact me directly for a free quote. Tom Holian [email protected]
Source: http://www.eurorateforecast.com/2015/04/18/sterling-set-for-uncertainty-against-the-euro-tom-holian/
