Exchange Rate Forecast
Today is the last day of the month and it is another quiet day for economic data with the noteable German Retail Sales already announced and showing worse than expected by some considerable distance which has pushed Sterling Euro exchange rates back over the 1.23 mark on the interbank level. The rest of this morning is likely to remain quiet with the main focus this afternoon on the other side of the Pond with Canadian Gross Domestic Product (GDP) figures released at 13:30 and then speaches from 3 members of the Fed later in the afternoon which may have an impact on the US Dollar. However, next week the new months brings with it the new cycle of economic data which is likely to increase the volatility which means while the exchange rates are so strong for Sterling it may be worth making the most of the current levels.
So, if you need to transfer funds internationally and would like to discuss the market outlook and the different options available to you please call straight through to our trading team for free on 0800 328 5884 or if calling from abroad call us on 0044 1494 725353.