Currency Update

We have received the following email from our contact at Foreign Currency Direct and thought we should pass it on to as many people as possible:

Apologies for the informal nature of this e-mail but given the recent volatility on the currency markets and the massive shifts in the value of the Pound, I thought it was important to make sure all of my clients were aware of the impending interest rate decisions for both the UK and the Eurozone on Thursday.

The anticipation of interest rate cuts have seen the GBP USD rate fall by 5.5 cents and the GBP EUR rate to fall by 3.75 cents today alone- both of which are very sizable movements. Given the scale of the rate cut at the November meeting of the Bank of England, and the fact that no-one can be certain of the size of any potential cuts, many of you may wish to consider getting something done before Thursday to avoid possible volatility.

If I have not spoken to you recently and you would like to update me with any pending currency requirements (either near or long term) then please feel free to get in touch.
Susan