Second day of positive Euro movement

The Euro has enjoyed two days in a row of growth in value against the likes of the Pound, the US Dollar and the Australian Dollar following the confirmation that European Bank, Monte dei Paschi, will not be left to its own devices to raise €5bn in capital to meet its debt obligations, as a bailout for the whole banking sector of €20bn has been organised by the new administration in Italy.

Whilst this was not headline news, it must also be put in context that German bank Deutsche faced a €12bn fine for their activities during the financial crisis. So we are not seeing large scale GBP/EUR movements surrounding this news, particularly since a bailout was largely expected.

This is lucky for Euro buyers, however, the issues with Sterling which is covered in its own section is exaggerating the current gains for the Euro against the Pound.

Tomorrow there is consumer confidence figures to be released from Germany in the morning, which is the last true data release of note for the Eurozone before the turn of the year. Again, the main concern for traders is protecting themselves rather than a short term look at German consumer activity, so not much movement is expected.

If you are in a position to, and have a Euro buying requirement, it may be wise to secure a rate of exchange using a forward contract and eliminate the risk open to your position.

You can contact your account manager here to discuss the parameters of how to secure an exchange rate for up to 18 months and safeguard your transfer from any further adverse movements. Whilst it is currently quiet there is a huge amount of information coming to light at the turn of the year, and whilst the Christmas period is meant to be relaxing, it is also a period to prepare.

A window of opportunity has opened for Euro sellers, you be considering capitalising on these gains ahead of a difficult year for the Eurozone. Were open this morning if you would like to discuss a Euro requirement on 01494 725 353 or by emailing


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