Well it seems nothing can stop Sterling from continuing to fall against the Euro. Today, we saw another 2 cent drop from €1.35 down to €1.33, which means this week alone we have seen the GBP/EUR pair drop 4 cents:
Strong US jobs data today helped strengthen the US Dollar, and investors worried about global concerns caused by the Chinese slowdown are moving out of Sterling into the safe haven US Dollar, pulling the Pound lower against other currencies.
I’ll be back in action next week on Monday with a full breakdown of next week’s economic data that could affect exchange rates.
In the meantime, if you are concerned about the exchange rate moving the wrong way, and would like to discuss the current market conditions and get a quote, then click here to send me a free enquiry. I can discuss your personal requirement over the phone, explain what is moving the rate and what could be in store in the coming months. I can also explain the various options you can consider to ensure you don’t lose out on the currency markets.
The service I provide is free, it costs nothing to get in touch for a chat and there is no obligation involved in having a brief telephone consultation with me. I have never had an issue beating quotes from other brokers, and you may find you could save a significant sum of money by taking a few minutes to see what rate of exchange I can offer you. Have a great weekend.