FindCurrency.com

By ASP

The Bank of Japan last night warned the country’s growth could be harmed by the continuing Eurozone debt crisis, the flooding in Thailand and the strength of the Yen. The Eurozone crisis has slowed the demand for Japanese goods in Europe. This combined with the disruption to supply chains following the floods in Thailand have resulted in a bleak outlook for the future.

As the JPY continues to strengthen, exporters goods will continue to become more expensive and therefore it is likely even less will be purchased in the coming quarters. If you have a need for JPY in the short terms please contact me on asp@currencies.co.uk

By ASP

For any clients with CAD requirements it is essential you keep in close contact with your account manager. At 12:00 we will see the release from the Bank of Canada on their interest rate decision. It is currently at 1% and is expected to be kept at 1% however any deviation from this will surely cause market volatility.

To be kept up to date with breaking news that could affect your exchange rates please contact me on asp@currencies.co.uk.

By ASP

Some people would argue we are already in a second credit crunch with all of the recent movements on the stock and currency markets and I don’t think it could argue with them. Christine Lagarde (MD of the International Monetary Fund) has said that the path to recovery is now “steeper and narrower” than any other time in the last 3 years. This kind of comment is clearly translated into uncertainty and unpredictability on the markets with currencies rates like the GBP/USD fluctuating by over 7% in the last month. If you had been spending £200K and buying USD over the last month the difference you would have seen at the high compared with the low was a massive $21,804.

To ensure you mimise your exposure to what are very volatile markets currently please get in touch with me at asp@currencies.co.uk to be allocated one of our industry leading currency brokers.

By ASP

The Federal Reserve warned of a weak outlook for the US economy on Wednesday which sparked a selling frenzy across markets resulting in 5% losses on the day. This really highlights the uncertainty in the markets and investors lack of confidence on the economic outlook which in turn will cause very volatile stock and foreign exchange market. One of the biggest market movers of the week was the ZAR which when comparing the high to the low of the week had a massive 8.9% difference! In this week it hit a 2 year low and the ZAR has weakened by 24.57% since the begining of the year.

It is very apparent that that almost all currencies are very volatile at the moment and in my mind the only way to cover yourself is to place stop loss and limit orders to try and maximise your currency transfer. If you have any upcoming requirements and would like to have your contract options explained to you please contact me on asp@currencies.co.uk

By ASP

The Greek government yesterday announced that it is going to be implementing tougher austerity measures to try and ensure the IMF (International Monetary Fund) release the next 8bn Euro tranche of the bailout. The IMF had criticised Greece this week for not enforcing the cuts promised however with these most recent developments by Greece i’m sure they will secure the next 8bn Euro tranche. By Greece receiving this bailout it is likely the Euro will strengthen and it wouldn’t suprise me if we see rates hit the 1.12 mark soon.

If you have any upcoming requirements but do not have a personal currency broker it is essential you get in touch with us now. Please feel free to call me, Adam Peddie, on +0044 1494 725 353