This recovery for cable has not lasted however, and this morning at the time of writing this post has already lost 0.75% - this could make a difference of nearly £2000 on a $300,000 purchase..... further proof that it is imperative you are in a position to purchase your currency off the back of a phonecall by openeing up a free no obligation trading facility with me at Foreign Currency Direct.
The facility will take two minutes to set up and is done simply by filling in a form online following the links below.
Sterling - Euro is relatively stable at present, and it doesn't appear that there is much data due out throughout the course of the day.
The big market mover today appears to be Sterling - New Zealand Dollar following their decision last night to cut rates by more than expected. Analysts expected a 1% cut and there was a slight surprise last night when a cut of 1.5% was announced.
An interest rate cut generally has a negative effect on the currency concerned and following this data release Sterling has gained ground on the NZD.
This gain may not be around for too long, as we see another rate decision in the U.K next Thursday and further cuts over here are projected so if you have upcoming requirements it may be smart to sell your Sterling now.
If you have any questions or queries please do not hesitate to contact me.
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
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