The Euro has hit a two month high against the US Dollar and has also strengthened against Sterling following the news that the European Central Bank (ECB) plan to buy short term bonds in an attempt to stimulate the struggling EU economy. This news brought confidence to the European markets with yields on Spanish and Italian bonds falling which has already helped the two debt laden economies and has brought back a lot of confidence to the markets which in the current climate is absolutely key. Should the bond buying programme work then we could see Euro exchange rates continue to strengthen against most the major currencies which could mean that if you are looking to buy Euros it may be worth making the most of the current highs.
Later today we have US non-farm payroll data due for release which shows the number of people in employment outside of the seasonally effected agriculture industry, this is due for release at 1pm UK time and so if you have a USD currency requirement whether you are buying Dollars or selling Dollars make sure you speak to one of our experienced currency brokers today to discuss your options and the current live exchange rates. You can call straight through to our trading floor for free on 0800 328 5884 or email us on firstname.lastname@example.org