Countries in Europe
If you need to send currency payments to Europe then prepared to be bombarded as everyone can do it, So how do you pick, Base your decision on company reputation, customer feedback, charges and fees and exchange rate given.
Eurozone’s State Of Currency
Economists had been predicting a business slow down in Belgium and this prediction has not only turned out to be true but the bang has been greater than what was expected. This has greatly affected the currency condition of eurozone. The confidence index of Belgium has fallen down to a six month low bringing a doom to the manufacturing industry. French business too is facing similar downturn and signs of recovery in France are really slow. The economic data that has been released from USA has an indication of the falling purchasing rates of new homes to a level that was never expected. Hence, the market remains largely dependent on the government support. The same story holds for the foreign exchange rates. According to Fed, the European sovereign debt crisis has resulted in lessening of chances of economic growth. The dollar too came under pressure, once the Federal Reserve decided about a stricter controlling of the US economy. But the pound has been in a much better position compared to Euro and this is evident from the standard of trading that it carried out yesterday. Even Sterling has earned a much better position than the US Dollar.
This shows that the Pound has been able to overcome the low position that it had been entrenched in to for the past few days. It had even lost its AAA credit rating following the emergency budget. Even the Bank of England has planned not to inject any more money in to the economy of England under its policy of the Quantitative Easing(QE). The inflation that had hit has created a percentage which is pretty above 2% of the Bank’s target. This inflation has questioned the bank’s prediction and the other committee members too do not find a change in policy to be feasible enough.
The Currency State Of Euro Zone
Chances of an economic slowdown in Belgium had been the common topic of concern for a long time. This apprehension proved to be correct and the degree of damage has been greater than the calculations. As a result of this downturn the economic condition of the entire Euro zone region and the foreign exchange of the world too have been greatly affected. The area of the economy that has been most badly affected is the manufacturing world of Belgium with its figures falling to a record rate in the last 6months. But France too has not been spared for its business has been badly affected by the downturn. The economic data that has been produced by US on the entire matter shows that there has been a plunge in the purchasing rates of the homes to a rate which has never been expected earlier.
As a result of these poor economic conditions, the government support has become the greatest area of support for the market. Even the world of foreign exchange is under similar pressure. Again the sovereign debt of Europe has enhanced the chances of the lessening of the economic growth. Even the dollar is suffering from the similar hard fate. On the other hand the pound is enjoying a much better position which does not require it to be bothered by the current economic downturn in the foreign exchange of the world. In fact the data shows that both the pound and euro is enjoying a much better off position than any other currencies of present time.
Pound was entrenched in a low position even a few years back but this problem has been removed over time with pound steadily improving its status. It had even lost its AAA credit rating following the emergency budget. Even the Bank of England has planned not to inject any more money in to the economy of England under its policy. Moreover the policy of Quantitative Easing(QE) has created the situation in which the Bank of England might squeeze in.