Best Exchange Rates

Euro goes from market dog to darling in a week

Categories: Business FX, EUR, News, USD

What a difference a week can make! The nagging doubts starting late March when the Euro was seen as the riskiest currency on the planet until after Sunday’s French election, now the Euro is suddenly everyone’s favorite and perhaps people are starting to beach consider how much more they will need to budget to send their summer post-cards from the beaches of France, Italy and Spain.

As shown in the BER rate alert chart the EUR/USD hit a 30 day high on March 28 and then started to tank due to the perceived risks of the two far-left vs far-right candidates making the second round of the French election.

Today’s BER Smart Alert shows the EUR vs USD rate up over a percentage and the market pundits are now lining up to back the european currency rising further.

EUR/USD 3 Month Chart

EUR/USD is touching 3-month highs [Hi:1.0933, Lo:1.0517] and for the quarter is up 2.06%.

As reported by Bloomberg,

Goldman Sachs Group Inc. expects the euro to gain almost 4 percent after the first round of the vote delivered all that investors hoped for. Pacific Investment Management Co. has a “more constructive” view on the currency and Nomura Holdings Inc. has recommended buying it. BlackRock Inc. and JPMorgan Asset Management favor European shares amid reduced political risk, while BlueBay Asset Management has already added to holdings.

Readers looking to buy Euros while they remain cheap can bypass hefty FX margins at the banks and instead use BestExchangeRates.com’s online comparison calculators for Euro foreign currency transfers and Euro travel money.


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