Today will see strikes take place across Europe in protest to the austerity measures that the single currency economy currently face. The strikes are expected to take place in Spain, Greece, Portugal, Belgium, Germany, France, Italy and some Eastern European countries. As a result of the strikes flights have been cancelled and cities will effectively be closed down as the streets will be lined with protesters. As a result we could see some significant currency movement today especially for Sterling Euro exchange rates. The size of the strike just goes to highlight the unrest in the EU and therefore the battle the leaders of European nations face to help the Europe stave off worse economic issues and begin the much needed recovery all while attempting to keep the voting public happy. While the leaders of the EU work on this challenging balancing act GBP EUR exchange rates are likely to remain volatile. We are currently seeing some excellent opportunities for clients looking to exchange Pounds for Euros but over the course of today it is possible we will see some spikes in the market as the effects of the strikes sinks in to the market. To stay up to date with the latest currency news make sure you contact your currency broker who will be able to discuss the latest currency movements and the options available to you.
Today the Bank of England will announce the quarterly inflation report which, following yesterdays positive news, is expected to be positive for both the UK and Sterling. Consumer Price Index figures yesterday came out the highest witnessed in 5 months and so there is a chance that the quarterly figures will continue that positive trend. High inflation could raise calls for an interest rate increase in order to prevent inflation rising too far out of control which, as a result could cause some Sterling strength. So, this coupled with possible Euro unrest today could lead to some good movement for Sterling Euro exchange rates, however as regular readers will be aware nothing is ever certain in the currency markets!
If you need to send money abroad and are looking for great exchange rates make sure you speak to your dedicated currency broker today to discuss your currency requirements and all the options available to you. You can call straight through to the dealing floor for free on 0800 328 5884 or if calling from abroad call us on 0044 1494 725353 or email me on firstname.lastname@example.org.