The British pound has continued its New Year downward path against a resurgent euro. Sterling/Euro is currently trading at 11 month low and there are mounting fears that the UK’s economy contracted during the 4th quarter of 2012. Clearly the risk of a return to recession enhances should the first three months of 2013 show no signs of improving growth prospects.
The euro on the other hand has been buoyed with European leaders declaring that the worst of the eurozone debt crisis has past; their focus now channelled toward driving an economic recovery. This week’s first release of the UK’s Gross Domestic Product performance from the Office for National Statistics will help define the short to medium term direction of this currency pair.
It’s certainly worth having a look at any euro requirements clients might have as we can discuss ways they can protect themselves against adverse currency fluctuations.
By speaking to Moneycorp clients will benefit from:
· The best exchange rates (up to 4% compared to a high street bank)
· Friendly personal account managers to help them make an educated decision as to when and how to transfer funds
· Flexible trading options to protect against adverse currency fluctuations
· Fast efficient payments typically between 3-48 hours
· Total security of funds with all funds held in a segregated client trust account
· A firm authorised by the FSA and regulated by HM Revenue and Customs