Time to Buy Euros, Sell Dollars?
Time to Sell your Dollars and Buy Euros?
The US Dollar has climbed back to a six-month high against the Euro. With continuing fears that the European economy is transferring from a gentle slow-down to a full-blown recession, the Dollar has made vast gains in the foreign exchange rate.
The German economy seems to be the largest cause for concern, with a low of $1.4571 to one Euro on Tuesday. Leading market analysts have expressed views that Germany appears to be heading into recession and will likely drag the rest of Europe with it.
The American dollar has taken full advantage of the situation, but European exporters must be pleased with the current situation as their goods will now be cheaper overseas.
Exporters from Europe can take advantage of the fluctuating rates by contacting a currency broker and arranging for forward ordering of currency to be made on their behalf.
Fx-foreignexchange have currency dealers specifically allocated to business accounts. The currency dealers develop an insight into their client’s needs and buy, or sell, foreign exchange accordingly leaving their clients to do what they do best while saving money.
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