GBPEUR rates of exchange continue to climb as the UK continues to be seen as a safe haven away from the risky euro. European pressure is building on the central bank there to start additional stimulus including a new QE program. This could come this side of Christmas and is starting to be priced in, hence why the euro’s value is falling. Micro economic data is also showing signs of concerns in the Eurozone. German data showed that confidence in business is falling across the “engine room” of Europe. This was put down to building concerns about eastern Europe and the trade ties being cut with Russia.
Moving forward I don’t expect a huge difference in rates of exchange through this afternoon and the rest of the week as economic data is light. Next week when the new month starts is when rates should return back to the volatile trading period we have seen the last few weeks. So if you have any currency exposure and want to limit your exposure or maximise your trade make sure to get in contact in the near future. Our service here will allow you use LIMIT ORDERS, RATE ALERTS, SPIKE NOTIFICATIONS, SPOT & FORWARD CONTRACTS.
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