The Pound has once again continued to rise against the Euro and indeed has had a fairly good day against the majority of major currencies, closing in on a four year high against the Euro in Particular.
If you are looking to buy Euros then you are currently at the highest rate of exchange that has been seen since October 2008 this has gained further ground today due to the Spanish bond market creeping over the dreaded 7% mark once again. The worrying factor for Spain is that the French bond market actually went the other way leading to a wider gap in the divide between those economies in trouble and those deemed asholding their own within this European crisis.
Sterling has also gained against the Dollar over the day by close to half a percent which is great news for those with an upcoming interest in buying U.S Dollars. and indeed AED (pegged to the Dollar).
We are indeed involved in interesting and challenging times in the currency markets worldwide and making the right decision at the right time for your purchase is becoming tougher, if you don’t already use us then why not get in touch and have an efficient and trusted currency broker to guide you through these choppy waters.