Frost setting in on the currency markets
13 December, 2013
As we creep closer to that special time of the year it has been a relatively quiet week in terms of data for the pound it has struggled against the Euro and in part against the USD. The pound has lost almost 2% against what were previously year long highs against the single currency whilst against the Dollar it has lost around ¾ of a cent again dropping off over year long highs.
Across the board though the pound remains strong and is demonstrating this across a number of pairings – ZAR, AUD and THB to name but a few. Today is however another fairly stagnant day in the way of market data so it is unlikely we will see much volatility in the majors – more likely they will remain range bound.
But do not be fooled by this seemingly quiet period in the market as the nation prepares for Christmas and New Year, as in previous years December and moreover January have been volatile months for rates.
Fear not though as even though some of you may worry you may have ended up on Santa’s “naughty list” you shouldn’t be punished if you have upcoming currency requirements. Currency Index offers a range of solutions including forward contracts and limit orders which can help you get the most out of your currency exchange, and ensure you don’t get caught out at the most expensive time of the year. Indeed should you have any upcoming currency requirements, speak to your Currency Index broker today to avoid potential disappointments – because whilst we can’t ensure you get the presents you want come Christmas, we can get you the best exchange rates around come the big day.
Speak to your Currency Index broker today for some friendly, professional (and festive) guidance…..we can help you stay well informed and well ahead of the market.
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