GBP Exchange Rates Improve

Sterling exchange rates have improved significantly over the last few days pushing up well over the 1.26 mark and at the time of writing are moving back towards the recent 2 year high level we saw in July, this means there are currently some excellent opportunities for clients looking to buy Euros. A major factor in this recent movement is the news from the Eurozone which showed that inflation in the single currency economy has dipped once again coming in at a 5 year low of 0.3% which is worryingly close to deflation (a negative reading means the prices of goods and services are falling which results in deflation). The European Central Bank cut interest rates earlier in the year in an effort to try and stave off deflation but it appears that this has not had the desired effect and as a result we could see the European Central Bank make further changes to monetary policy which could spark some major changes to Euro exchange rates. So, as we move into a new month it could be an incredibly busy period and for those clients looking to transfer funds internationally it is more important than ever to keep in touch with your currency broker here at Foreign Currency Direct plc.

At Foreign Currency Direct plc we offer numerous contract types all of which can be tailored to clients individual requirements and with so much movement at the moment in the markets it is alwasy sensible to speak through these options with an experienced currency broker. Our team will be more than happy to discuss the options open to you and the market outlook so you can make an informed decision as to when to transfer your funds internationally.

You can call straight through to our trading floor for free on 0800 328 5884 or if calling from abroad call us on 0044 1494 725353 alternatively you can email me directly on