Sterling finds strength against Euro although Dollar looks to gain value

Yesterdays trading saw early morning losses for Sterling, then proceeded to gain agaijnst almost all currencies apart from the Dollar, as the ECB's Trichet mentioned that he believed the main reasons behind the higher inflation over there are higher fuel and oil prices, therefore this put doubt in the minds of analysts and investors that originally were looking at the possibility of a rate hike over in Europe tommorow.

As regular readers are aware, when an interest rate is cut it generally has a negative affect on the currency concerned and when raised generally a positive one as investors look to move their funds to higher yielding currencies.

The Dollar is currently geting stronger again as they yesterday announced that they would not look to cut rates further and if anything would look to increase the value of the Dollar in the near future.

Anyone with an upcoming purchase please do feel free to get in touch to discuss your options as the market is moving about all over the place at the moment so it is vital you secure your rate at the right time in order to get the best value for your hard earned savings.

This is a brief summary of todays report. Click here to read the full report on our main website

If you are buying a property abroad, and want the best exchange rates, just click on the links below to go straight to our main site, or Email Me




Have a great day and thanks for reading!

Daniel Wright