Generally this can be a key factor to the strength of a currency, but also something to be aware of is head of the ECB - Jean Claude Trichet also speaks 45 minutes later. Should the Eurozone decide to cut we could see an instant gain for Sterling against the Euro but do be aware that if in the speech by president trichet he points towards the fact that the ECB will be holding off from further cuts for a while to see how the most recent ones have panned out then these gains may well be short lived.
The markets move on rumour as well as fact and anyone that does have an upcoming purchase of Euros would be smart to be in a position to move and book out a rate off of the back of a phonecall. This can be done by opening up a trading facility with us here at Foreign Currency Direct which is free and carries no obligation to trade.
Just taking advantage of a 1.25% spike in your favour on a €125,000 purchase could save you over £1400 - a sum of money that certainly needs to be take seriously that is for sure!!
If you do have a requirement to buy Euros or indeed any other currency then do not hesitate to contact me either by emailing me on the link below or clicking through to our website and opening a trading facility and I will get in touch with you to discuss your needs.
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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