The current outlook for buying Euros is not too rosy with the pound coming under further pressure and the Euro benefiting from the uncertainty elsewhere. Most clients looking to buy and sell the pound and euro are being kept on their toes from the market developments, what will happen next and how can you benefit? I can help with the planning and execution of any payments to help mitigate the uncertainty and help you maximise your position.
Brexit has become much more of a reality in the last two weeks and this is what has driven the exchange rate causing the pound to slip by almost 9 cents since the beginning of September. Such movement was witnessed after the vote and to see a further ten cents evaporate has taken sterling down to 168 year lows on a trade weighted basis. All is not too good in the Eurozone but for now the worries in the UK are obviously outweighing the problems in the Eurozone.
Troubles in the Eurozone centre around the Banking crisis and the expectations on Quantitive Easing. Most commentators expect that the European Central Bank will need to increase their QE program to help manage the negative economic effects from Brexit and recent lacklustre economic performance.
Next week is some really key data for both the UK and the Eurozone. As a currency specialist with almost ten years experience managing both private and business clients FX risk I am well placed to provide with information and analysis you won’t find elsewhere. To learn more about a better deal please email me Jonathan on [email protected]
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