Exchange Rate Forecast
Following the news yesterday that both the Bank of England and the European Central Bank (ECB) have held their interest rates at the current levels we have seen Sterling exchange rates fall and this morning the markets have opened down again possibly due to the fact we have seen some weaker than expected economic data including the recent NIESR GDP figures which showed a surprise drop. However, Sterling is still at very high levels and despite the recent dip it is expected to remain strong and considering that over the last couple of years we have seen trading levels against the Euro in the low teens and in the 1.50’s against the US Dollar so the current levels are still very attractive. This means for clients that are looking to send money internationally it may be worth making the most of the current levels in case the current negative trend continue. At Foreign Currency Direct plc we offer a number of different contract types all of which can be tailored to clients individual requirements and with our team of experienced and helpful currency brokers we will be happy to discuss how we can help and give you all the latest currency news in order to make an informed decision about when to transfer funds.
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