Euro at Four Month High Against Sterling and US Dollar
Sterling steeply dropped to the 1.17 level against the Euro on Tuesday night following the worst UK public finance debt figures ever for the month of August on record. The Pound fell yet further on Wednesday following the Bank of England minutes which have revealed an outlook for slow and patchy growth.
Today the theme has broadly continued in the currency markets, with the Euro going from strength to strength whilst the Pound and Dollar fail to recover significantly from the heightened fears following the Bank of England minutes and Federal Reserve meeting this week.
Sterling was trading at the mid-market rate of 1.5641 against the US Dollar and 1.1758 against the Euro at 10am this morning.
This is a very good time for anyone who needs/wants to sell Euros. Alternatively, if you need to protect yourself from further risk with an upcoming transfer into Euros speak to your broker or register an enquiry today.
See our page on Currency Exchange and the benefits of using specialist brokers.