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Best exchange rates for buying Euros and Dollars for 8 months. (Ben Amrany)

Friday, September 13, 2013 15:07
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(Before It's News)

The pound has continued its gains against all of the major currencies today sending the pound to the highest
level against the Euro since early January this year
. For me with the positive data releases in the employment, manufacturing and construction sectors of late represents a very good buying opportunity. It was only a couple of weeks ago that GBP/EUR was 4 cents lower. On a £200K Euro purchase this
is an extra 8000 Euros
. Not a gain to be sniffed at.

Will the pound hit 1.20 against the Euro?

There is a strong possibility now that GBP/EUR could breach 1.20. It is a very big resistance level and every time it will try and edge close to it many investors will be taking their profit and it could cause the rate to fall back slightly. In Germany an election is fast approaching and political stability could help the Euro recover some of its
losses. If I was selling Euros I would be holding out for this.

Next week there is a host of inflation data out in the UK and if inflation is shown to still be rising this could lead
the markets to believe that interest rates could go up before the 2016 date being mentioned by the Bank of England. I feel this would tip sterling even higher but if it shows that inflation has dropped then we could see sterling
just weaken back into the 1.18′s.

If you want to capitalise on the best rates for 8 months then feel free to contact me with your requirement at bma@currencies.co.uk and I will contact you to explain the options that are available to you.

A host of negative data to have come out of the US has given the pound a boost and is also hovering at 8 month highs against the USD. The poor data sets have questioned how much the FED may Taper in their next meeting next week.

Will the pound hit 1.60 against the Dollar? 

Again there is every possibility but as soon as the FED start looking at tapering, where they scale back their monetary easing  I feel you will find the USD seriously strengthen. If you are buying Dollars I would be considering this with the fantastic levels. I feel the Dollar is undervalued at the moment and there are many analysts that feel the rate could drop back below 1.50 over the next 3-6 months.

If you need to buy or sell any majorcurrency please do feel free to contact me. Not only do we offer our expert opinion on what we feel may happen with the rates we offer you a significantly better rate of exchange than the banks where the savings can be up to 4%

Feel free to contact me at bma@currencies.co.uk and I will introduce myself and the service that we provide a little more formally

Thank you for reading.

Ben Amrnay

bma@currencies.co.uk



Source: http://www.poundsterlingforecast.com/2013/09/13/best-exchange-rates-for-buying-euros-and-dollars-for-8-months-ben-amrany/

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