Buying Euro rates fairly stagnant today despite horrific attacks in Germany (Joshua Privett)
Seemingly two opposing forces have hit the marketplace today, with GBP/EUR as a result moving heavily but showing little net change by the close of play today in UK markets at 6pm.
GBP/EUR oscillated by only 0.7 of a cent between the high and the low today with, at the time of writing this post, only a net change of 0.16% from the beginning of the opening to the close of play.
The utterly abhorrent news emerging out of Germany overnight warranted some shedding of the Euro by investors who wanted to protect themselves from any adverse repercussions on the currency markets. The sell off of Euros is what caused its value to decline.
However, when it emerged the attack was isolated and follow-ups had been discounted, the Euro quickly settled back to its original value before the horrific news had proliferated into the marketplace.
Following this GBP/EUR rates of exchange were largely governed by end of year flows on the currency markets which explained the choppy nature of the exchange rates as the day wore on.
As we enter into the final days before Christmas this seems set to continue, with GBP/EUR exchange rates moving heavily throughout the day, however with little to show for it as markets tend to stabilize.
As such for anyone planning a foreign currency transfer in the near future, the key will be to attempt to catch the market at a peak, rather than a trough. Meaning that being in a position to move quickly in these scenarios is crucial.
I offer a proactive service in order to keep my customers informed of any potential movements, and as such am in a position to be your eyes and ears in the market place – relaying pertinent information and tempting trading levels.
You can contact me overnight whilst markets are closed on email@example.com to discuss a strategy for your transfer in order to maximise your currency return.
I have never had an issue beating the rates of exchange on offer elsewhere, and these current buying levels can be fixed in place for anyone buying foreign currency in the near future and wish to secure an exchange rate presently.