Weekly Currency Report
·Sterling lost ground last week amid mixed sentiment from the Bank of England, with the MPC Official Bank Rate Votes indicating that all nine members vetoed a rate rise, but Mark Carney eluding to an imminent shift towards a more hawkish response.
·GBP/EUR looks set to drop back below 1.40 Interbank if data continues to disappoint this week.
·Greek banks reopen as the country made payments of €2.05Bn to the International Monetary Fund and €4.2Bn to European Central Bank, effectively clearing their debt repayments for now.
·The Greek Parliament passed the vote on the second package of prerequisites for further financial assistance, which lead to sustained Euro strength filtering through to the market
GBP/EUR exchange rates have dipped by 3% since last week falling from 1.4410 to 1.3989. Although lower than where they have been recently, this level still represent excellent value, so we are still finding our Euro buyers are wanting to lock in rates sooner rather than later.
Contract Options With FC Exchange
Why should I use FC Exchange and not a bank?
FC Exchange is a foreign exchange specialist that typically saves clients up to 4% on exchange rates compared to transferring money internationally through a bank. FC Exchange is an FCA authorised E-Money institution (FRN: 900205), having a "higher" security permission with the Financial Conduct Authority than an authorised payments institution would.
FC Exchange provides a boutique-styled customer service, offering clients a single, dedicated point of contact.
Further, for your assurance, FC Exchange offers a Best Exchange Rate Guarantee and aims to provide clients with a service that is not only easy to use, but offers you peace of mind.
Clients can contact FC Exchange's Sam Edmanson on email@example.com or to open a FREE no obligation trading facility (takes two minutes) click the following link and Sam Edmanson will be in touch to discuss any requirements www.fcexchange.co.uk/register