During trading on Friday we saw Pound / Euro exchange rates hit the highest levels we have seen for 4 years, this means if you need to buy Euros we are at the highest levels since the start of global recession. Following the news that the European Central Bank (ECB) had cut interest rates by 0.25% and Spanish bonds breached the 7% level the Euro weakened significantly which resulted in the current highs we are witnessing. If you would like to make the most of the current highs against the Euro then call us today on 0800 328 5884 so one of our experienced currency brokers can discuss your requirements and explain all the options available to you. Despite the new high there is no guarantee that this will last so it could be worth making the most of the current levels.
In the meantime news from the Recruitment and Employment Confederation (REC) stated that the outlook for the UK job market was bleak as employment figures dropped further with unemployment figures now standing at 8.2% – 2.61 million people out of work. The rising unemployment figure is bad news for the UK at a time when the economy is contracting and inflations is falling sharply, to help get the UK out of recession we need to see unemployment figures fall as more people in work, earning money and therefore spending money means more funds moving around the system which should help the economy and Sterling exchange rates.
If you need to transfer money internationally and are looking to achieve the best exchange rates make sure you speak to one of our currency brokers today on our freephone number 0800 328 5884 or email us on firstname.lastname@example.org so we can discuss all the options available to you so you can make the most informed decision on when to trade.