The current trend on GBPEUR is downward. If you are looking to buy euros in the next few months you should probably buy quite soon to avoid disappointment. There is a very strong likelihood the euro is going to continue to strengthen against the weaker pound.
The current downward trend on rates is very much in motion and whilst there will be small spikes to take advantage of, the likelihood is that the rates will continue to fall. The reasons? There is now a strong belief despite the problems in Europe, they will solve their problems in the long run. Whilst rates are bound to climb again in the future, this may not happen for a very long time.
Rates have still not settled and daily we are seeing movements of anything from 1-2 cents. 1 or 2 cents on a large volume of currency makes a huge amount of difference and this is where we can help pointing out the highs and lows on the market.
I have had some clients getting in touch who have been holding out this year waiting for rates to go back to 1.20! I am sorry to upset you but it just doesn’t look likely right now. If you are completing on an overseas property soon or are paying euro invoices soon it would be wise to consider moving soon, as well as all your options. Euro strength and sterling weakness have combined to spoil the dreams of overseas property hunters and anyone buying goods overseas. Why take the risk? Rate will probably climb again but realistically it could take years to go back up to 1.20.
Talk of GBPEUR reaching parity and certainly 1.10 are all over the media and I think it is fair to say the rates will drop further before they pick up. The flipside of this of course is good news for those selling euros. If you are selling euros the time now is excellent and may improve further. Speak to me about ensuring you don’t miss out on these highs and to find out how using our service works!
It is often the greedy who get their fingers burnt so to speak with a specialist about all of your options buying and selling euros please speak to me Jonny on [email protected]. A quick email with details of your situation plus a contact number means I can provide information on your options making your life easier and less costly.
I look forward to hearing from you
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