Sterling Euro Exchange Rates
We have recently seen Sterling Euro exchange rates hit a four year high presenting clients with some excellent buying opportunities but comments from Mario Draghi the president of the European Central Bank (ECB) has provided some much needed confidence for the single currency economy however it has meant Sterling Euro exchange rates have fallen from the recent high and led to what is now a negative trend if you are looking to buy Euros. Effectively “Super Mario” has said that the ECB will back all the countries in the Eurozone and has also announced a new bond buying scheme which is designed to help reduce struggling economies debt levels while introducing more cash into the overall European economy. While we have seen Germany question the legality of this move it has been passed and is now being supported by all the major EU nations so the likes of Spain and Greece who are currently experiencing difficult economic times may be able to see some light at the end of the tunnel. If this confidence remains we could continue to see the Euro strengthen and rates fall back down towards the 1.20 level, especially while the UK economy remains in a precarious position however, should any negativity creep back into the Eurozone the current trend may reverse.
If you would like to be kept informed of the latest currency movement then one of our experienced currency brokers will be happy to discuss your currency requirements and make sure you are aware of all the relevant spikes in the market so you can make the most informed decision on when to trade. You can call straight through to our trading floor for free on 0800 328 5884 or email me directly and we will be more than happy to help.