GBP/EUR January Currency Update
Mar 2nd 2010, 11:31 am
#1
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GBP/EUR Currency Update
Hi All,
As promised here’s a brief update on what’s been happening with the Euro over the last week.
Surprisingly the chokehold on Europe has been loosened despite the lack of detail on the Greek bail-out plan. We don’t think the market can remain ignorant for too long without fall-out. It was also highlighted that Italy has now moved to the top of the list of European economies facing a crisis should a Greek bailout package not be agreed and implemented. In any case the EUR remains vulnerable as highlighted by the fresh sub 1.3500 low against the USD. After a disappointing German ZEW survey the market will look for a more upbeat IFO and EU sentiment surveys. Consumer sentiment is likely to be softer.
GBP/EUR Movement – High’s & Low’s of last week (22/02/10 – 26/02/10)
High’s:1.1429
Low’s: 1.1145
A movement of: 2.55%
Difference on £200k
High:228,580Euros
Low:222,900 Euros
Difference of:5,690Euros
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.
A further update will be added next week.
Regards,
Mark Bodega
Director
As promised here’s a brief update on what’s been happening with the Euro over the last week.
Surprisingly the chokehold on Europe has been loosened despite the lack of detail on the Greek bail-out plan. We don’t think the market can remain ignorant for too long without fall-out. It was also highlighted that Italy has now moved to the top of the list of European economies facing a crisis should a Greek bailout package not be agreed and implemented. In any case the EUR remains vulnerable as highlighted by the fresh sub 1.3500 low against the USD. After a disappointing German ZEW survey the market will look for a more upbeat IFO and EU sentiment surveys. Consumer sentiment is likely to be softer.
GBP/EUR Movement – High’s & Low’s of last week (22/02/10 – 26/02/10)
High’s:1.1429
Low’s: 1.1145
A movement of: 2.55%
Difference on £200k
High:228,580Euros
Low:222,900 Euros
Difference of:5,690Euros
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.
A further update will be added next week.
Regards,
Mark Bodega
Director
Last edited by Windsor2; Mar 2nd 2010 at 11:42 am.
