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Currency Market News

Our blog is below, to help you understand what's moving currency rates and affecting the cost of your international payments. For some friendly guidance on your own transactions, either for your business or yourself, simply fill in the form above and an FCA-regulated currency broker will be in touch to assist you, without any cost or obligation.

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Best Euro Exchange Rates
27 October 2014

The Euro exchange rate has been struggling over the past few years after the economic crash in 2008 saw the euro rate drop to a low of 1.02 in December 2008. Since then the Euro exchange rate has generally been pushing up albeit slowly but nonetheless rising. In July 2012 we saw the rate rise to 1.28 hitting a four year high and showing signs that the Euro is weakening against the Pound, but this was short lived and the rate dropped back down to 1.14 in March 2013. Moving on to this year and the Euro has kept weakening throughout the year to see it hit a two year high exchange rate of 1.28 in October 2014, and hopefully will push over the 1.28 mark moving into next year.

There are various things that dictate the movement of currencies in the market and the main factors are: Unemployment Data, Economic Growth, Interest Rates and the movement of currencies actively trading. For example this year saw the Scottish referendum come up and on 18th September 2014 the vote was for us to stay a United Kingdom, but in the weeks leading up to the final vote the pound against the Euro was very volatile and saw a two cent swing in a matter of days. The YES vote helped settle the market and saw the Pound against the Euro strengthen and hit a two year high of 1.28 in October 2014. This is a perfect example of how key data releases really do affect the market and this just highlights the importance of using the expertise of a currency broker, which should help you maximise the timing of your transfer.

The Bank of England released the minutes from the MPC last week and stated there were only two of the nine members voting for interest rate hikes. Thus meaning they will probably not rise until summer of next year due to inflation not rising to the predicted figure of 2%. If you are looking to exchange Pounds into Euros it would be a good idea to keep in touch with a currency broker who will help you save money compared to your bank as well as maximise the timing of your transfer.

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