Go Back  British Expats > Partner Forums > Money Transfers, Foreign Currency Exchange, Market Reports/Forecasts & all Int'l Banking Topics
Reload this Page >

Currency Report 26/11 - Do I buy my €uro's or U$D now or do I wait.

Currency Report 26/11 - Do I buy my €uro's or U$D now or do I wait.

 
Old Nov 26th 2013, 9:25 am
  #1  
BE Currency Transfer Vendor
Thread Starter
 
Ian_Daly's Avatar
 
Joined: Sep 2013
Location: Kent
Posts: 73
Ian_Daly is a name known to allIan_Daly is a name known to allIan_Daly is a name known to allIan_Daly is a name known to allIan_Daly is a name known to allIan_Daly is a name known to allIan_Daly is a name known to allIan_Daly is a name known to allIan_Daly is a name known to allIan_Daly is a name known to allIan_Daly is a name known to all
Default Currency Report 26/11 - Do I buy my €uro's or U$D now or do I wait.

Sterling has fallen over the last 12 hours, both against the USD and the Euro. Both for the same reasons as UK Mortgage Approvals dropped surprisingly last month. It resulted in GBP-USD rates falling at their fastest rate in over 2 weeks and GBP-EUR rates dropping from a near year high.

Do I buy now or wait?

These are both questions I have already been asked a number of times this morning so I thought I would mention them in today’s report. I personally agree with a majority of currency forecasters that there is little data on the horizon that could shoot GBP-EUR rates back over the magical 1.20 level. The central banks don’t normally make any significant change to policy on the month of December so it draws to the conclusion that these current GBP-EUR rates are probably at the top end of the range expected for the rest of the year.

Yes we may see rates slightly higher but equally I expect the average level for the next 6 week to be lower than where we are currently at. As a result I would recommend buying Euros if I need them this side of the Festive period or at the very least deploying tools to limit your exposure with the likes of Automatic Rate Alerts, Spike Notifications and Limit Orders.

If you wanted to take some risk and fancied a gamble to see how things move this week, tomorrow and Thursday are key as we have GDP figures tomorrow and Inflation figures on Thursday. Next week however when the new month starts the amount of economic reports will be significantly larger. In either case if you are looking to make any type of currency exchange and would like more information and to discuss your options feel free to contact me.
.................................................

Excel Currencies typical clients buying exchange rates are from €1.1725 - €1.1935 on amounts ranging from £100 - £100,000+. Why not ask yourself how does this compare to what I'm receiving now? Not sure, then why not run a live comparison. Simply find out what exchange rate your provider is giving today then get in contact with us straight away to see how much you can save.

..................................................
Ian_Daly 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 - Archive - Advertising - Cookie Policy - Privacy Statement - Terms of Service - Do Not Sell My Personal Information -

Copyright © 2021 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.