As I said in my post on Monday today has indeed been by far the most volatilie of the week and as my fellow www.poundsterlingforecast.com and www.eurorateforecast.com writers have said in the last few days… The days of 1.20 did not last long and rates are right back into the 1.19s.
If you have missed the boat then don’t worry too much, rates could shift back up again, however this is not by any means 100% guaranteed!!
I always say that with currency transactions the greedy amoung us end up losing out the most, however I completely understand it is extremely easy to just keep holding out for that little bit extra and many of my clients do, the trouble is if rates then go down again you find yourself caught in a vicious circle desperate for rates to go back where they had been when you could have locked in… a very dangerous and rocky road to travel down!
A word of advice, if you have an upcoming currency transfer then set yourself a target level, if it hits it then buy it straight away and just don’t watch the market any more, more is lost through indecision rather than a poor decision!!
Both the Bank of England and European Central Bank kept rates on hold today, with a member of the BOE saying he felt we had to get more QE (Quantitative Easing) into place, those that are regular readers will know the mere mention of QE has tended to lead to Sterling losing strength, and just the mere rumour of it still carries great force.
The Euro had got weaker due to speculation of a rate cut too which obviously did not happen today, leading to a fight back for the single currency against both the Dollar and Sterling.
To give you a quick background, we are currency brokers and have been in
the industry for years, this site was set up set up two years ago to give
clients simple but informative information and now have 20,000 people a month
stop by for information.
Last year we had thousands of people get in touch with us through the
site, of which hundreds have already used us and we have saved them money over
their high street bank or current broker, you can get in touch with us by clicking
here and setting up a free, no obligation trading facility to get a quote
There is no harm in comparing rates even if you have used
someone else for years – Just like buying car insurance you need to always shop
around. You can also email me directly firstname.lastname@example.org
with any questions or queries.
I look forward to speaking with you.