The latest commentary from DeVere group on the GBP/EUR foreign exchange rates.
The Pound has had a another strong but volatile week with GBP/EUR rates seeing a near two cent swing form the highs to the lows of the week. All though we have seen a week full of positive data from the Eurozone, the ‘Grexit’ scenario continues to weigh heavy on the currency with rates currently sat in 1.41 territory. Next week brings 5 days full of economic data releases from both the UK & Eurozone, expect to see yet another week of volatility and yet another week of negotiations between the IMF and the Greek government.
Will they? Won’t they?
This is the question on everyone’s lips at the moment and with yet another week going past and still no agreement, will Greece leave the EU? With an uncertain future ahead of the Euro and exchange rates nearing 8 year highs why leave it to chance?
Need to buy Euros soon? How do you secure an advantageous position?
If you are looking at completing on a property purchase/sale, or even just looking to transfer money in the near future you can still take advantage of the current rates. This can be achieved by booking todays rate and holding this for upwards of 12 months (Forward Contract). Effectively allowing you to budget accordingly and eliminate market volatility.
With GBP/EUR rates in such a strong position, it would be prudent to find out how you can benefit from the current highs in the currency market.
Speak to your deVere Foreign Exchange trader to maximise your transfer value.