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By Jonathan Watson

The month of May has seen Euro to Sterling highs not seen since the Summer of 2009. This is great news but securing the rates have been quite hit or miss. The rate has been anything but consistent and on a graph would look like a rollercoaster – although not one for the faint hearted. We have had lots of news in Europe regarding the tackling of massive budget deficits in a wave of ’Austerity’ measures . Spain announced €15 bn worth of cuts, Italy announced a €24 bn package of cuts, Portugal passed a budget designed to reduce their budget deficit by 1% and Greece have had to introduce numerous measures in order to receive further aid from Eurozone members and the IMF. This month has marked a real shift not only in economic policy but political policy. A potentially damaging precedent has now been set for any future financial problems in Eurozone member states, that being that other members will bail them out. These headline grabbing measures have been successful in slightly calming the markets, but there could be major trouble round the corner due to the huge sums now owed and that still need to be cut to really tackle the underlying issues in Europe. It may therefore not be too long before we see rates at levels 0f Summer 2008…  What do you think? Please fill in the contact us and an experienced currency trader will be in touch.

By Matthew Wright

The euro fell more than 1% yesterday VS sterling amid fears that the sovereign debt crisis and banking sector concerns in the euro zone are more severe than in the UK. Sterling/euro has been moving higher because the UK does not have the concerns about the potential default or restructuring of debt that the euro has.  

By Alex Ellis

Sterling exchange rates continued to float around their recent plateau as recent GDP figures showed positive growth, all be it at 0.2%. This has caused rates to continue to trade at similar levels as were seen before the election which was a year long high.

If you are looking to buy Euros now or some time in the future then you may want to consider a forward contract; this will allow you to book today’s exchange rates for up to two years in the future and therefore protecting your posistion.

By Alex Ellis

UK GDP was released at 09:30 (BST) today and the figures were released exactly as expected, sterling exchange rates have been on the up this morning and this released has helped to further establish a plateau.

Sterling is still trading at a recent high so if you are interested in doing a currency purchase, then now may be a good time. You may also be interested in a forward contract as this will guarantee todays exchange rate for the next six months.

For more information on how you can manage your risk in the present climate use currency line to contact an experienced currency broker.

By Alex Ellis

Sterling showed both sides of the coin this morning, with further losses against the Euro this morning; these losses are now floating around 1.5% for the last 24 hours. However sterling has gained over 3% on the Australian Dollar since the early hours of yesterday morning. For those who are looking to buy AUD now is an opportune moment as often gains such as these are short lived. If you are looking to buy Euros then you will certainly want to tread carefully in the current climate.

Currency Market following Election

The currency market remains very volatile following the UK general election and this can create both excellent and poor times to conduct currency purchases. In this instance use Currency Line to contact an experienced currency broker who can not only assist you with your purchase, but inform you of recent trends and movements as well as implementing tools to manage your risk and minimise your exposure.