A quick look through financial media and it’s clear that yesterdays upward spike for the Euro has left many financial commentators scratching their head as to why?
After a relatively dovish statement from Mario Draghi, the Euro has rallied hitting both an 8-month high against the Pound and it’s also worth noting that the Euro has hit a 2-year high against the US Dollar.
The arguments for the Euro to strengthen even further can be put down to improved political risks after victories for a number of pro-EU parties within Europe, as well as talk of reigning in the current Quantitative Easing program which is also considered a positive as the economy is getting closer to no longer needing propping up.
At the same time there is always the risk in a change in the fortunes for the Eurozone, so those planning on converting their Euros into Pounds or another major currency should bear in mind just how strong the currency actually is at the moment.
There aren’t any major news releases for the Pound or the Euro this morning but the ongoing Brexit talks in Brussels between UK and EU negotiators could well result in movement between the pair, which is why keeping in touch with us and registering your interest in the rate could well be worthwhile.
If you have a large currency exchange to carry out in the coming days, weeks or months then you are more than welcome 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. A small improvement in a rate of exchange can make a huge difference so for the sake of taking two minutes to email me you may find you save yourself hundreds if not thousands of Pounds. You can email me (Joseph Wright) on firstname.lastname@example.org and I will endeavour to get back to you as soon as I can.