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GBP/EUR January Currency Update

GBP/EUR January Currency Update

Old Jan 12th 2010, 9:26 pm
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Default GBP/EUR January Currency Update

Hi All,

Here is an update of what’s been happening in the Currency Markets throughout December with the euro.

During December the shock of Dubai followed by the credit rating downgrade of Greece sent the shivers towards the UK and the fiscal imbalance that we are experiencing.

However the UK economy, despite being the last to exit this recession (hope on Q4 GDP data), has shown flexibility in the labour markets and if one compares the beginning of 2009 with the end of 2009, there were certainly some reasons for cheer into the New Year celebrations to bring in 2010.


Central bank rates:
UK: (MPC): 0.50%
EU (ECB): 1.00%

High & Low of the month:
High: 1.1298
Low: 1.0925

Difference of cost on a £200k property:
High: £225,960
Low: £218,500
So a difference of £7,460

Whilst FX isn't the most thrilling of subjects, the sooner you begin to think about your money transfers, the more likely you are to make your money go further.

Regards,

Mark Bodega
Director - HiFX
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