Very important week ahead for exchange rates

In my recent post I outlined the reasons that the Pound may fall further, and that proved to be the case. We saw poor UK data on Friday that weakened the Pound, and the Euro gained strength on rumours that they may raise interest rates in the EU later this year.

This pushed GBP/EUR rates into the €1.13's however this morning we've seen a slight recovery to the mid €1.14's. Pound/Dollar rates also fell as strong US jobs data last week mean it's almost a given the US will raise interest rates later this week. (Higher interest rates strengthen a currency due to the higher return on offer, and that's why the Euro and Dollar have become more expensive to buy.)

Important week ahead for exchange rates

The week ahead is going to be a very important one indeed for exchange rates, as there are several key events that could have a very big impact indeed on the currency markets. Let's have a look at what we might have in store.

Protection against adverse exchange rate movements

As you can see from the outline above, there are many key things happening this week that could affect your exchange rate adversely. If you have a currency transfer to make and would like a free consultation on what is happening, and how to protect yourself against the rate moving against you, then make a free enquiry with us today by clicking here.

We offer exceptional exchange rates and a range of different contract types to help protect you against a volatile market. In the current climate it's more important than ever to ensure that you speak to an expert currency broker to ensure you make the most of your currency.

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