Currency Transfer News – Euro cheaper again

2 September, 2014

Robin Haynes

The football transfer window may now be closed, but the money transfer window remains firmly open, with the Pound yesterday within a few pips of its best rate against the Euro since August 2012. This came despite UK mortgage approvals and manufacturing figures coming in slightly below expectations, perhaps because the corresponding Eurozone data for manufacturing was also weak.

We certainly have an opportunity for Euro buyers to secure rates at excellent levels again in the short term, but with the European Central Bank monthly press conference looming on Thursday afternoon the status quo could be short lived.

One currency that has seen its price increase throughout the transfer window has been the US Dollar. Yesterday was a bank holiday in the States for Labor Day, and this afternoon at 3pm we have US manufacturing figures to mirror yesterday’s from the Eurozone and UK. Will the American economy show more strong figures and make the dollar more expensive still? The main news for the States this week is likely to be Friday’s “non-farm payrolls”, the main monthly statistics for employment, and often a driver of volatility in the Greenback.

Finally overnight tonight we have Australian GDP for those of you sending money down under; the Australian Dollar has been getting slowly more expensive through 2014 so far. Whichever currencies you are buying or selling, give us a call at Currency Index for the latest currency news and a free quote on y our own transfer – with no hidden fees or commissions, there are no signing on fees or agents’ commissions to pay, so make it a considered decision rather than a last minute panic buy of the football world.