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As promised here’s a brief update on what’s been happening with the Euro over the last week.

Sterling hit a eight-week high against a weaker euro as the single currency underperformed showing a fragile outlook for the euro zone economy.
The euro fell below at 81.65 pence, these helped lift the pound to a new one-year high.
The euro are still under pressure, maintaining the negative trend from Friday, when comments by European Central Bank announced that the ECB should extend its loose monetary stance dented the single currency.
Euro-Sterling has been the key point for sterling gains.


GBP/EUR movement – High’s & Low’s of last week (16th August – 20th August)

High’s: 1. 2233
Low's: 1. 2071


Difference on £200,000

High: EUR 244,660
Low: EUR 241,420

Difference of: EUR 3,240

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