The Euro is now trading at its best level to buy US Dollars since 2015 as the single currency appears to be the investors currency of choice at the moment.
Indeed, the Euro has strengthened by 15% during the last twelve months which a good news for anyone holding Euros at the moment. The strength of the Euro is also being demonstrated against the Pound and until we get further clarity on the Brexit talks I think the Euro could remain relatively strong for some time to come.
The US released lower than expected Non-Farm Payroll data on Friday afternoon which showed a fall from November to December showing that things may not be going as well as many expected in the world’s leading economy.
Although the US increased interest rates a number of times during 2017 and are predicted to do the same this year, as there is a high expectation it may not be able to strengthen the US Dollar much further.
Indeed, the European Central Bank are contemplating slowing down their Quantitative Easing programme as well as looking at starting to raise interest rates towards the latter part of this year and this is why I think the Euro could continue to remain strong against both the Pound and the US Dollar.
The main factor keeping Sterling under a lot of pressure is the issue of Brexit and until we get further positive news which is unlikely to come until the earliest in March I think the Euro will maintain its strength.
If you have a need to make a currency transfer in the coming days, weeks or months then feel free to speak with me directly as I will be more than happy to help you both with trying to time a transaction and getting you the top market rate when you do come to buy your currency compared to your bank or another currency broker.
Even a small improvement in the exchange rates can make a big difference so feel free to to email me and you may find you could save yourself hundreds if not thousands of Pounds. You can email me (Tom Holian) on email@example.com and I will respond to you as soon as I can.