Good Afternoon,
What a difference an afternoon can make!
At Lunch time today the Bank of England announced no change to its current Interest Rate Policy and QE – it will be interesting to see what the minutes will say in two weeks time.
Than came the ECB, who announced a CUT in EURO INTEREST RATES – Euro Zone interest rates are now so low they are actually negative – if only I could get a mortgage in Spain. The Euro exchange rate fell below 1.3000 against the US dollar and above 1.2600 against the pound, but this wasn’t the end of it.
Super Mario’s press conference detailed a “new” new plan (the current new plan isn’t in effect yet!) which is…
…wait for it!
Quantative Easing – but the guise of a ABS or asset purchase program rumoured to be about 500 million Euros.
Now we have moved onto plan C – what will happen if this doesn’t work?
To celebrate the fall of the Euro – we are having a sale on at www.travelfx.co.uk !!!!
…. until tomorrow
Afternoon MARKET RATES:
GBPEUR 1.2650br#
GBPUSD 1.6400
EURUSD 1.2975
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 POUND AND LOOK AT SECURING EUROS/ USD 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.