Following a fall in Sterling exchange rates yesterday we have seen the Pound hold firm against both the Euro and the Dollar which is good news for those clients looking to send money overseas. The political uncertainty in the UK and the lack of growth for the UK economy has meant that confidence in Sterling is low which has resulted in GBP-EUR exchange rates falling. However, it is difficult to see why so much confidence is flooding back to Europe, they have incredibly high unemployment and many of their economies are in recession so it is not unthinkable that Sterling Euro exchange rates could rebound back up however how long it will take for such a correction is unknown and of course like all things in the curerncy markets not a certainty!
This week the currency markets are relatively quiet with Fridays non-farm payroll figures in America the most noteable, however as we have already seen recently the markets can move quickly with no real warning so make sure you stay in regular contact with your currency broker here at Foreign Currency Direct plc so they can keep you informed of
If you need to send money abroad and you are looking for the best exchange rates then speak to one of our experienced currency brokers today. You can call straight through to our trading floor for free on 0800 328 5884 or email me directly on firstname.lastname@example.org