Interest rate cuts and coronavirus
Currency markets were rocked last week after a number of central bank’s moved to cut interest rates, as the economic impact of the coronavirus threatens to plunge parts of the world into a recession.
Amidst an extremely chaotic start to the week we have seen GBP/EUR trading close to a five-month low at €1.1436, while GBP/USD has surged to US$1.3110.
Looking to the week ahead, we expect coronavirus headlines to continue to dominate market sentiment and infuse further volatility into the currency market.
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Selling Your Property in France?
One key benefit for those who are selling and moving away from France is that Currencies Direct holds a euro account here in France. This makes life so much easier for anyone selling! You register with Currencies Direct, receive your CD account number and the RIB for their Paris based Euro account, which you pass on to your Notaire as your instruction for onforwarding of sale proceeds.
Currencies Direct receive the euros, convert at the agreed exchange rate and forward on to their destination bank account – wherever they are in the world. Simple, easy and very efficient…
Currencies Direct cite the example of a lady who has recently moved back to the UK – her funds are stuck in her French bank account who are insisting that she visits the branch in person to close her account but she is unwell and unable to travel.