The Euro has made steady ground today versus the pound after sterling came under pressure from a narrowing of the Scottish referendum polls. However you only have to look at EUR USD rates and EUR AUD rates to see the single currency is still in trouble. Indeed sterling is still looking reasonably good against the Euro despite the tumble because we have the next ECB decision on Thursday and there is a growing chance the ECB may have to implement some of the “unusual measures” they have been hinting at recently in an effort to combat stubbornly low inflation.
If this is the case then we could see the Euro drop sharply on Thursday, however do not rule out the chance that Draghi’s soothing words and another “wait and see” stance help calm fears down and the Euro get a temporary reprieve from the recent pressure. If this is the case, I am sure it won’t be long before it comes under fire again so Euro sellers may want to move quickly.
Do you need to transfer money to France or Spain? Are you selling a property on the continent and want to get the best exchange rate for your Euro? We specialise in getting clients better exchange rates than the bank and other brokers, so feel free to email me, Colm, at email@example.com and I would be more than happy to explain how our services work and see which options suit you best.