UK Money Transfer looks at reactions to the Eurogroup summit’s outcome

This morning the FX markets are reacting to the outcome of the Eurogroup Summit on Greece.

UniCredit tell the editorial team at UK Money Transfer that the outcome, "will be obviously the main driver today for FX majors. Nervous and choppy trading should thus remain of reference also due to a still very light data calendar."

Accordingly, UniCredit forecast that EUR-USD should hold gains, but acceleration above this year’s high at 1.3322 and then towards 1.3385 is unlikely due to the overall risk picture even after the Greece deal. On the other hand, heavier sales should occur only with a pullback below 1.3240 and towards 1.3144.

Looking at the Japanese Yen, the fact that USD-JPY broke even above the last October’s high at 79.51 suggests that sentiment remains negative for the Japanese unit now. In turn, this should help EUR-JPY break through the 106 area.

Optimism about Greece pushed the pound dollar exchange rate back above 1.5850.

Sterling should show a healthy tone for now, but a break above 1.59 will be neither easy nor quick. EUR-GBP should again struggle above 0.8350.

Meanwhile, commodity currencies, like the Canadian Dollar, benefited from optimism about Greece and the PBoC’s cut of the reserve ratio. Yet, soft Canadian retail sales today should spur a USD-CAD rebound back to parity.


Get informed when your exchange rate reaches your desired level.
>> Exchange rate alerts

Sign up for regular and up to date exchange rate updates.
>> Exchange Rate Market Updates

Compare UK Money Transfer Exchange Rates

Banks vs Foreign Exchange Specialists

Should I go with my bank when it comes to transferring money in and out of the UK?


You could certainly go with your bank when it comes to transferring money in and out of the UK.

However, as the Money Transfer UK comparison tool shows, you are not likely to get the optimum exchange rate.

The reason is because this is not a core area of traditional banking - where foreign exchange specialists are dedicated to moving money across borders and employ specialist 'hedging' techniques to do so, banks simply don't have the resources to devote to the retail client.

Simply put, they are not nimble enough.

Get a UK Money Transfer Quote


Our partners at UK money transfer specialists
TorFX
are here to assist you with your money transfer requirements between Europe and the UK.

Ask for your quote today.

As a secure FSA regulated payment provider they have access to over 40 currency accounts and can provide same day exchange transfers.

Money Transfers for Property Purchases

uk money transfer property

Money transfers for property purchases comprise a huge chunk of business carried out by money transfer companies. The industry is prone to fluctuations in the value of the British pound suggesting people are only willing to make big calls on property purchases according to the ebb and flow of the exchange rate markets.

Get in touch with a specialist now to work out a strategy to minimise your risk and execute your money transfer the second your desired exchange rate is reached.

>> All about money transfers for property purchases, mortgages etc

>> Read More About The Various Money Transfer Strategies Here

>> Let us Introduce You To the Money Transfer Companies that Can Help You