subject: Foreign Currency Euro Rates [print this page] Foreign Currency Euro Rates Foreign Currency Euro Rates
Cause for concern is at present is weakening the euro, which again is down against the dollar and remains at yesterdays levels against the pound.
The prospect of the Irish needing to utilise the Emergency Bailout fund looms and this may damage the euro. Conversely the dollar has rebounded dipping below 1.60 against sterling eradicating many of the gains experienced following the QE programme announcement in the US. This could be the effect of a flight to safety from investors while the debt issue remains a hot potato.
Look out for the UK's all important Quarterly Inflation report today as mentioned in Steve's post last night. This report could well affect the euro rate. If you have a currency transaction to make fill in your details and we can keep you abreast of developments!
Sterling seems to have found stability and resistance at 1.15, but could quite easily take a tumble or receive a boost as a reaction to this important announcement. Friday we have German GDP figures, which are predicted to come in lower than previous. Germany has however been outperforming expectations all year so any improvement could see the euro take a jump. Should today's inflation report give sterling a boost, the gains may not last long
By using a currency specialist such as currencies.co.uk you can achieve commercial rates of exchange for your transfers. Actively undercutting the banksrates of exchange meansmoney is saved. There are also tools available and guidance offered. For example you can book today's rates of exchange for a future transaction - very useful for businesses who know they have a foreign currency bill in the future and want to know what the costs will be.
To find out more and discuss options please contact the author.
