After initial weakness this morning following a rise in European unemployment levels, the Euro made big strides after a surprise announcement of Central Bank cooperation to maintain liquidity in markets. The unexpected move saw the Euro gain nearly 3/4 of a cent against the pound before slipping back later, but just goes to highlight how short-lived some spikes can be as mentioned in Jonny “Dandelion” Watson’s post earlier.
The move also saw the pound and Euro shoot up against the Dollar as sterling 2.25 cents against the greenback and the single currency has enjoyed a nearly 3 cent range! This exchange rate volatility can be difficult to navigate but there are substantial profits to be made by taking advantage of the spikes. If you have a currency requirement then please feel free to call Colm on +44 1494 725 353 or e-mail firstname.lastname@example.org and quote ERF