Last week was the first in a while where there was no clear direction in GBP/EUR.
We seem to be at a crossroads for the currency pair.
While it’s positive for the Pound that Boris is back at the helm, the Euro has been lifted as Spain, France and Germany are ahead of the UK in easing of restrictions.
It’s still too early to say who has suffered more economic damage. That will play out over the weeks and months ahead.
Put simply, the future direction of all the major currencies is highly uncertain – which means price trends are short-lived.
Sitting back and hoping for a specific rate may end up being be counterproductive and costly.
So what should You do?
The best strategy may simply be to trade the opportunities in front of you, pouncing on favourable rate moves when they arise.
If you would like to discuss your particular situation, you can speak to a trader on 01872 487 500. They are here to help.
Or to find out our latest exchange rates, request a quote below.
Thanks For Reading, What Next?
Have a great day, Geoff Lambourne - Direct Dial me on 0044 (0)1872 487 470.
Current rates:
Monday 4th May 2020 at 15:40
£1.00 GBP = 1.1392 EURO
£1.00 GBP = 1.2430 USD
£1.00 GBP = 1.9415 AUD
£1.00 GBP = 2.0649 NZD
£1.00 GBP = 1.7513 CAD
£1.00 GBP = 23.2281 ZAR
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