On the 14th day of Christmas the Eurozone give Euro buyers a reason to trade

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There is a huge concern the European leaders will not reach a resolution on how to increase the zone’s capacity to rescue and bailout the EU economies. The Euro fell to a 9 month low in the wake of Germany rejecting the proposed increase to the European Financial Stability Facility’s €500 billion lending. Whilst the amount is almost immaterial (since neither would be enough to rescue Italy) the comment was the latest in a series of comments to reduce confidence in the Eurozone.

Sterling lacks the momentum to push higher on its own and much of the strength in the pound is down to euro weakness. The pound could gain support if speculation about the Bank of England opting for further monetary easing in the first quarter decreases. Bank of England chief economist Spencer Dale put a question mark over his support for any future quantitative easing to boost the economy and warned UK inflation may not fall as fast as forecasted.

Exchange rate volatility can make a huge difference on an investment or purchase. On 7th December 2011 £100,000 would have bought €116,090 but today, one week later £100,000 would achieve €119,540 - that’s a €3,450 difference in a few days. Looking forward over the next 2 weeks we may see strong prices on GBPEUR as the market thins out over Christmas. With these volatile times we encourage clients to register and take advantage of our orders to secure prices at peak times.

To get more information about the markets and to find out how you can save time and money when exchanging your money contact Moneycorp on +44 (0) 20 7828 7000. You can also send your enquiry by email on comparemoneytransfer@moneycorp.com.

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On the 14th day of Christmas the Eurozone give Euro buyers a reason to trade

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