Best time to Sell the USD, Dollar?
Daily Foreign Currency Exchange News: 27th September, 2010
Is now the best time for Buying or Selling the US Dollar?
US Dollar: Chatter in the global currency exchange commnity sees the Dollar at risk of further declines as there’s strong suggestion from the Fed that Quantitative Easing may be on the way. View our currency converter to compare the dollar against your currency.
Euro: The euro is suspiciously high, according to some global currency exchange analysts. As European Members report ever-greater debts, investors continue to ignore the facts before them. In some cases, we’re at 4-month highs. Questions are now beginning to surface about just how long the euro can continue this rally. The Eur/usd is now just below the 1.3500 level. This is a significant level. If the euro breaks through, and holds above, 1.35, we may see some speculators leave the currency on a grand scale.
Australian Dollar: Trends indicate that the aud will go higher against the usd this week. After a climb of 2.36 percent, the Australian Dollar is beginning to top-out, some believe.
GBP/USD: The Pound Stirling has moved little against the USD this morning. As mentioned on Friday, the pair have remained trading within a tight band, and just above 1.5800.
GBP/JPY: The Pound has remained steady against the Yen, despite the Bank of Japan’s second intervention last week. They remain at around 133.30.
USD/JPY: A significant differnce between the Dollar and the pound, is the fact that the usd/jpy has reached a fresh low of 84.18. Friday’s sell-off from 85.40 to 84.12, suggests a decline.
We report on the current foreign exchange movements and offer our clients the very best currency exchange rates available. Our speciality is the ability to offer competitive time option forward currency contract rates. If this is not the most recent daily currency exchange news report, view the most recent news here
Buy and sell currency at the best foreign exchange rates available today through FX-ForeignExchange
This daily global currency exchange report is for information purposes only. It is not intended as a recommendation to trade or a solicitation for funds. FX-ForeignExchange cannot be held responsible for any loss or damages arising from any action taken following consideration of this information.
Is this the time to Buy Pounds and Sell Euros?
Looking to sell, or buy, euros and pounds?
(comment added on 5th July, 2010) This is an old article I wrote in February, 2010. To buy, or sell euros and pounds today, please visit our Foreign Exchange provider here and discuss your foreign exchange requirements with a currency dealer.
Some of you may recall my article on the 27th of January.. “Is this a good time to buy euros with pounds?” Well, it transpires that it was. Now the situation has reversed.
Today, Feb 10th, 2020, The GBP, Pound, has dropped since then against the euro. We had a case, this week, where a customer may not have been able to complete on his house purchase as the exchange rate had dropped so much that there was a shortfall of a few thousand euros on completion day.
This could have been overcome if the client had bought a Forward contract at the better exchange rate that existed on the 27th of January. If he had done this, he wouldn’t have been short of a few thousand euros on the property completion day.
So,…. Is it a good time to sell euros and buy pounds? Probably. No-one can say for sure, but it would appear that the pound is as weak as the euro, when compared to the US Dollar and the Yen. The eurozone is still dragging the Greek finance problem around and the Pound is still suffering from a wave of poor economic results. So, some would say that the Euro and the Pound have levelled off. Experience shows that this staus quo rarely remains for long.
The easiest way to look at this is; if you need to change your money at some point and you need to achieve a certain amount, then you have these options:
- Exchange all of your Pounds for euros at today’s rate. This is called a SPOT Contract. It ensures that you fix the rate today and you get your money transferred, to where it needs to be, in good time.
- Exhange some of your Pounds for Euros and risk the exchange rates going in your favour by the time you need to have the rest of the money changed. This is HEDGING in its simplest form. It does mean you can sleep at night, safe in the knowledge that you’ve made sure you don’t lose too much if the rates don’t go your way.
- Exchange your Pounds for Euros, at today’s exchange rate with just 10% deposit. Then pay the balance when you need the money in the future. This is called a FORWARD Contract. This is the way that most of my clients are now exchanging their money. By paying just a 10% deposit, our clients can relax, safe in the knowledge that they have the right amount of money for their property purchase.
Of course, this doesn’t just apply to Pounds and Euros. It applies to any tradeable currencies and we can deal in smaller amounts of currency.
Contact me here, for some free advice on how to get the best currency exchange rates to suit your circumstances.
