Wednesday, 2 June 2010

Wednesday, 2 June 2010

Strong sterling as predicted - dont let your money go up in smoke

Just a few weeks ago, I looked at the £ / € situation and predicted that the tide was turning back in favour for UK buyers rather than French vendors returning to the UK.
This has continued to be the case, with the £ climbing above the 1.20 mark, and hovering either side of this crucial barrier. I now think that if this can be maintained, there is no reason for 1.25 to become the next target for the currency.
As mentioned recently, these are the best levels since the collapse that started with the fall of Lehman Brothers in October 2008. That is fantastic news for anyone moving to Europe, although it is not such great news for those with Euros to sell.
It does highlight the need to deal with a specialist currency dealer, rather than relying on your High Street bank, and many of our clients have benefitted from this service and expertise during this critical period. Just a week ago the £ was at 1.15, so by getting the timing correct, you could have saved 4.35 % on your money in under a week. Not a bad deal !
Peter Elias (Agent Commercial)
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