Andy Haldane one of the 9 members that votes on the interest rate decision every month, weakened Sterling today by stating to combat inflation its a possibility that the UK could introduce Quantitative Easing or even cut interest rates. Therefore in today’s trading GBP/EUR reached 1.3977 and when they announcement came out to the public rates fell to 1.3742. This is a difference of over 2 cents. For anyone looking to buy Euros timing a trade is crucial as a £100,000 trade would achieve you an extra 2000 Euros if you had traded at the high compared to the low. In order to take advantage of swings within the market I would recommend placing a limit order.
Placing a Limit Order means that when the market moves to your specified rate, our system automatically purchases your currency, letting us work as your eyes and ears in the market. For more information feel free to email me on email@example.com or alternatively feel free to call 01494 787 478 and quote Dayle Littlejohn.