Every day there seems to be negative news to come out of the Euro zone which is having a real impact on the single currency. If you are holding Euros to exchange them to pounds or USD you may be finding this time worrying and stressful. The Euro yesterday weakened to fresh lows against the pound at 0.7951/1.2577 and was down against the USD to 1.2680. If this is of concern please email me at firstname.lastname@example.org and I can talk you through the options that may help you limit your loss.
In early morning trading yesterday there was a very small window of opportunity when the Euro did strengthen. This was on the back of some positive GDP data to come out of Germany. Their economy grew more than what was anticipated and this lent some support to the Euro. However this strength only lasted a very small amount of time. By the afternoon the Euro continued its recent trend by weakening to the levels stated above.
Now looking forward with all the uncertainty that is surrounding Greece (It seems like they are going back to the polls) with the anti austerity voters looking at hampering the calls from the EU and IMF. Now the Polls are suggesting that the leftist Syriza bloc could get in and they are opposed to any further cut backs in their country. This is all leaving an awful lot of uncertainty and the biggest loser at present are clients that need to sell their Euros.
Now although the rates are lot worse than last year you have to look at these things logically. There are not many analysts out there that think this situation is going to change in the near term and that the Euro will strengthen significantly for a long time. If you feel that the Euro will fight back please email me at email@example.com and let me know your reasons why. If you are in the mind set of most analysts that think the pound and the US Dollar will hold its ground and linger at the current levels for a good few weeks you may be prudent to look at cutting your loss and get as much back for your Euros as possible. Unfortunately the longer you leave your exchange the worst it may get for you.
If you are buying Euros in the near term things could not be going better. I would be placing limit orders in the market to try and ride this positive wave and see if you can achieve that little bit more. As stated though if you are selling I would be acting very soon. If you would like to make contact you can email me at firstname.lastname@example.org and we can discuss your requirement and the options that are available to you to help you decide when is the best time to make your exchange. We will make sure that teh rates of exchange we offer are a lot more competitive than your high street bank so you will get our expert personal service plus a better rate of exchange.