Market comment - time to sell Euros?
Tuesday 18th May, 2010, Global Currency Exchange market comment
Is the euro weakening further? Stop the slide if you have to sell Euros by buying a forward contract with just a 10% deposit.
Yesterday was a fairly quiet day for currency rates, with the Euro consolidating a little after its rapid descent. Don’t expect this to be the end of the euro slde though. The markets show large numbers of speculators don’t have much faith in the Euro at present.
Euro: The new belt-tightening approach in the Eurozone will do nothing for confidence in the euro as the policy will ensure that economic growth is likely to remain extremely restricted for quite some time. This will ensure that the interest rates will remain low and will ensure that the ECB will have to tighten spending further.
GBP:Eur. The pound continues to maintain station comfortably above 1.15 euros and is expected to gain a little. This is more due to the weakness of the euro though. As the UK chancellor’s first budget draws nearer, it will be fascinating to see how jittery the market will become. If you’re holding out to change GBP into EUROs, don’t hold off too long. contact us here, and let us know what rate you need. We’ll let you know if it gets there.
GBP:USD. The Pound hasn’t performed so well against the dollar and continues to slide. As commented yesterday, currency buyers just want to buy Dollars.
AED: As the aed is pegged to the USD, this could be a great time to sell aed and buy euros, pounds or Australian dollars. The AUD is very weak against the AED and US Dollar at the moment.
Talk to us about placing just a 10% deposit down, and fixing your currency deal at the best exchange rates today. It could save you thousands.
Call: 0044 1480 458 400 (International) or 01480 458 400 (if inside UK) for the best currency exchange rates. If you prefer, contact us by email here
Open a Free Currency Exchange account with us to make your Bank-to-Bank transfers much better value. Sorry, we don’t handle cash in any way.
Global Currency exchange rates news today
Thursday 13th May, 2010. Global Currency Exchange rates Market Comment
Yesterday, we saw a much improved day for the currency markets. There was a widespread recovery in share prices and the generally positive economic data did much to improve the Pound rate, particularly against the US Dollar and the Euro.
In the UK, the new Government has announced that it will cut public spending by £6bn in this fiscal year as an immediate step in a broader commitment to tackle the budget deficit. This was well received by the markets and gained the Bank of England’s support.
EUR: GBP. Today, we have seen the Euro gain a little against the pound, but most people believe that the Pound will continue to gain against the Euro. So Now could be a good time to call or email a currency dealer to discuss buying a forward currency contract if you have Euros to sell and pounds to buy.
AED: AUD. If you have AED, UAE Dirhams, and are looking to buy Australian Dollars, now could be a good time to buy. The aed has gained about 10% over the last year and seems to be peaking.
USD: EUR. The USD has moved considerably against the Euro to about 1.26 from a peak of 1.5 in just a matter of months. The value dropped to about 1.25, so we may have seen the bottom of the dip. If you have AED, or USD, and you want Euros, this could be the time to buy Euros.
Talk to us about placing just a 10% deposit down, and fixing your currency deal at the best exchange rates today. It could save you thousands.
Call: 0044 1480 458 400 (International) or 01480 458 400 (if inside UK) for the best currency exchange rates. If you prefer, contact us by email here
Open a Free Currency Exchange account with us to make your Bank-to-Bank transfers much better value. Sorry, we don’t handle cash in any way.
