Best Euro Exchange Rates - Best Euro Rate Information

Euro exchange rate falls

Good morning,

The euro fell to the lowest level in two years against the dollar as slowing inflation boosted the case for the European Central Bank to add further monetary stimulus to avert deflation. The Euro exchange rate falls and had its worst quarter since 2010 amid the ECB’s moves to swell its balance sheet and cut borrowing costs to spur growth.

The euro has tumbled almost 10 percent from a two-and-a-half year high reached in May as the ECB unveiled unprecedented stimulus, including purchases of asset-backed securities, to arrest a slide in inflation. A weaker currency may suit ECB bank President as it makes euro-area exports more competitive, while increasing consumer prices by making imports more expensive.

The dollar’s strongest year since 2008 is a source of growing concern among some Federal Reserve policy makers, who say further gains have the potential to curb economic growth and keep inflation too low. A strong dollar tends to restrain exports by making them more expensive, holding back growth, while reducing the cost of imported goods.

With yesterdays final estimate of UK Q2 GDP revealing an upward revision to quarterly output growth from 0.8% to 0.9%, markets will be looking to this mornings manufacturing PMI release for September for an insight into the Q3 outlook.

MORNING MARKET RATES:

GBPEUR 1.2840
GBPUSD 1.6167
EURUSD 1.2589
GBPSEK 11.642
GBPAED 5.9395
GBPAUD 1.8553
EURGBP 0.7786
GBPJPY 177.57
GBPTHB 52.509

Please contact me to discuss SPOT pricing, FORWARD pricing or alternatively placing MARKET ORDERS at pre-desired rates.

P.S. WHY NOT TAKE ADVANTAGE OF THE STRONG GBP AND LOOK AT SECURING EUROS ON A FORWARD CONTRACT FOR UP TO 2 YEARS IN ADVANCE. WE ONLY REQUIRE A 3% GBP DEPOSIT TO SECURE A RATE GIVING YOU PEACE OF MIND AGAINST RATE FLUCTUATIONS.

Kris Charalambides
Senior Account Manager
kris@imsfx.co.uk
www.imsfx.co.uk
Direct Dealing Line : 0207 183 7928
Dealing Desk : 0207 183 2790