Go Back  British Expats > Partner Forums > HiFX - International Currency Transfers
Reload this Page >

Weekly Currency Update GBP/EUR - Week ending 19th February

Weekly Currency Update GBP/EUR - Week ending 19th February

Old Feb 23rd 2010, 12:09 am
  #1  
BE Enthusiast
Thread Starter
 
Joined: Dec 2004
Posts: 524
Windsor2 will become famous soon enoughWindsor2 will become famous soon enough
Default Weekly Currency Update GBP/EUR - Week ending 19th February

Hi all,

The main subject stealing the markets attention has certainly been the continued debate surrounding Greece and other harder hit European countries.

Although the initial reaction was Euro negative the market seems to have settled down with little to no activity seen since then. One of the main reasons for the movements lies behind investors moving funds out of Europe into safe haven currencies like the USD. When large quantities of any currency are sold it can weaken, this normally has a positive effect on the safe haven currencies like the U.S Dollar, Swiss Franc and Gold.

Mervin King (Governor of the BofE) also made a few comments as inflation results showed a rise to 3.5% in January. The rules state that when inflation exceeds 3% the Governor is required to write a letter of explanation to the Chancellor why this has happened considering target is at 2%, what their plans are to bring this back in line. Comments suggest that the huge stimulus package we have in place, plus the effects of VAT changing back to 17.5%, will mean that short term upward inflationary movements are simply “temporary” and we shall see a drop in inflation over the coming months back to target levels.

GBP/EUR movement – High’s & Low’s of last week (15-02-10 to 19-02-10)

High’s: 1.1543
Low's: 1.1357

A movement of 1.64%

Difference on £200,000

High: € 230,860
Low: € 227,140

Difference of: €3720

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
Windsor2 is offline  

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Contact Us - Manage Preferences - Archive - Advertising - Cookie Policy - Privacy Statement - Terms of Service - Your Privacy Choices -

Copyright © 2024 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.