Mixed Currency Reports

 

Living, working or looking to buy a property abroad will know that currency exchange rates can make a substantial difference to the finances of an expatriate.

Paying for services in one currency while earning money in another is an opportunity for problems to arise as exchange rates fluctuate.

However, this week people earning money in euros are likely to be at an advantage as the eurozone continued to be a strong performer.

Andy Scott, foreign exchange dealer at HiFX, explained to Overseas Property Professional: "The euro continued to be a strong performer helped by the new bond issue for the European Financial Stability Fund, which was eight times oversubscribed with 38 per cent bought by the Asian wall of money, demonstrating that it is not just all talk but substance after the verbal support of China and Japan for the Eurobond market."

He added that this helped the euro to continue its recovery against the dollar and pushed it to a two-month high.

Meanwhile, sterling remained steady against the dollar and the euro and the US dollar fell against the major currencies.

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