Online:
Visits:
Stories:
Profile image
By Pound Sterling Forecast (Reporter)
Contributor profile | More stories
Story Views

Now:
Last Hour:
Last 24 Hours:
Total:

GBP/EUR exchange rates focus pairing (Joshua Privett)

Sunday, October 25, 2015 1:34
% of readers think this story is Fact. Add your two cents.

(Before It's News)

Thursday and Friday saw the largest gain on GBP/EUR exchange rates across two days of trading since the announcement of the Greek election in January.

GBP/EUR cannoned upwards from the 1.35’s to the 1.39’s before settling in the 1.38’s at the close of play on Friday. This is now the best time to buy Euros in two months.

The main force behind this incredibly favourable movement for Euro buyers was the speech given by Mario Draghi, the head of the European Central Bank, in the afternoon on Thursday about European monetary policy.

He announced that the Quantitative Easing Program, essentially an emergency stimulus of cash injections into the economy to keep inflation down and spending up, will likely continue on past the September 2016 deadline.

The Euro lost value as many investors unwound long-term positions on the Eurozone economy, as they previously thought normality would return to the Eurozone by the end of next year. The Euro lost value due to decreased demand during the sell-off, which continued into Friday with some companies taking more than a day to change their long-term strategies.

Where will GBP/EUR rates go from here? 

As the above suggests no new policies were actually introduced at the meeting, so instead the markets moved on the rumour that business conditions may change in the future and will not be confirmed until 2016.

So Euro rates will largely be in limbo following the news, and likely will gradually tick down due to the net increase in Euro buyers with its sudden and dramatic cheapening. This will increase the value of the Euro due to increased demand. Rates already corrected below 1.39 at the close of play on Friday due to this effect.

As such I strongly recommend that anyone with Euros to purchase should contact me on [email protected] to discuss a strategy on how you can squeeze the most out of this movement in your favour and maximise your Euro return. I can also supply a competitive quote on your transfer – I have never had a problem beating those offered elsewhere. 

Even if your requirements are not until the start of next year, these rates can be pegged to avoid missing out on incredibly favourable buying levels. I must remind readers that 10 days ago the rates had bottomed out for the second time that month at 1.33 – this movement should be seized.



Source: http://www.poundsterlingforecast.com/2015/10/25/gbpeur-exchange-rates-focus-pairing-joshua-privett/

Report abuse

Comments

Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Top Stories
Recent Stories

Register

Newsletter

Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.