Figures released this morning have shown that Gross Domestic Product figures have been revised down which was very much against what was anticipated. Many analysts had expected figures to come out showing the UK was not in recession and therefore had hoped this would give Sterling exchange rates a boost, however the fact they have been revised down has caused concern about the state of the UK economy and could mean we see some Sterling weakness over the course of trading today. Currently Sterling Euro exchange rates are at multi-year highs but this news this morning may cut that short so if you need to purchase Euros contact us today so our experienced currency brokers can keep you informed of all the latest news and information.
Yesterday we heard some positive comments from the European Council as its president Herman Van Rompuy stated the EU want Greece to remain in the Eurozone. With the Greek election looming and more speculation that the debt laden economy will soon have to leave the Eurozone confidence in the single currency economy is at a low so comments like this could be aimed purely to help paint a better picture of one of the world’s largest economies and to try and boost confidence. However, I am not convinced that these comments will make much of a difference! In fact despite the negative GDP figures this morning for the UK and the positive news for Europe Sterling Euro exchange rates are still testing the 1.25 level.
If you need to transfer money abroad and are looking for the exceptional exchange rates make sure you speak to one of our experienced currency brokers today who will be able to discuss your currency requirements and all the options available to you, so you can make the most informed decision on when best to trade. Call direct to our trading floor for free on 0800 328 5884 or email me on firstname.lastname@example.org.