The Pound has once again made gains against the USD over the start of this week as all seems relatively quiet on the European front (not for long though i’m sure) and global attitude towards risk appears to be increasing off the back of this.
In turn, this means that investors tend to pull funds out of their perceived ‘safer currencies’ such as the USD (gold is also priced in Dollars) decreasing the demand for this currency and also making it cheaper to buy.
We have also seen the ‘riskier currencies’ such as the South African Rand, Australian Dollar and New Zealand Dollar make gains from this as demand for them increases.
My view is that more European troubles are sure to come to front page news again it is just a case of when…. As and when this does happen we should see things turn around again… Those looking to sell Dollars or Sell AED Dirhams (pegged to the Dollar) will have a selling opportunity and those buying AUD, NZD or ZAR will have a great buying opportunity (compared to recent times anyway) however the European Central bank would all be great poker players as they are all very good at keeping their cards close to their chest so we may have a little wait on our hands first.
If you have a currency transfer to make be it buying or selling then feel free to contact me directly firstname.lastname@example.org for a direct comparison against your currenct bank or broker and I will do everything I can to beat it by enough to make it worth you using me instead as there is always room for improvement in my experience