Still great levels for the Pound-to-Euro and Pound-to-Dollar
31 January, 2018
Although yesterday was relatively quiet in the way of eco data we did see some positive movement and great levels for the Pound during the day’s trading. With little out in the morning the day had started quietly, and towards the afternoon’s trading we saw the rates pick up – mainly against the Euro, and this has continued into this morning.
Over the past few days GBP-EUR and GBP-USD have retracted from their recent highs of last week but still, both are offering decent levels to exchange funds particularly Sterling-to-Dollar. With a fresh round of Brexit trades talks right around the corner, there is every possibility that these current levels will be diminished. So if you have sterling in hand and have upcoming transfers to make on your overseas property completions then you may want to consider giving us a call and book in your requirements ahead of the Brexit talks to avoid the risk of the rates retreating back down amidst negotiations.
The Day Ahead
This morning the currency news focus will be on the Euro zone, we have already had various retail, producer and CPI data out for Germany and France. At 09:50 we have a speech from ECB Member Coeure followed swiftly by Euro zone Unemployment and CPI both at 10:10. At lunchtime the US release their ADP Employment change figures and at 13:30 its Canada’s turn to post their GDP. In the afternoon session the US post Pending Homes Sales and then attention turn to the US Fed Interest Rate Decision + Policy Statement out at 19:00. This will be Janet Yellen’s final meeting as she steps down as Fed the Chair of the U.S. Federal Reserve and although markets anticipate no big changes to be made they could perhaps offer some hints of the central bank’s approach to interest rates in the months to follow. With the best levels to buy Dollars in a long time, if you have a requirement for Dollars you may want to consider securing a rate ahead of the Fed’s interest rate decision in case they throw in any surprises which could affect the current rate.
Great levels for the Pound but you don’t have the full sterling readily available?
Don’t worry! Our forward contracts allow you to lock in and secure your full Euro requirement at today exchange rates with just a 10% deposit payment. So give us a call today to discuss your options and speak to one of our friendly brokers to see how we can help you save money on your overseas money transfers.
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