GBP/EUR reaches 7-year high

As the euro is at a near 7-year low against the pound, now is a great time for your clients to buy euros.

The European Central Bank (ECB) yesterday unleashed a 1.1 trillion euro Quantitative Easing (QE) plan to stimulate the Eurozone economy and boost inflation. The programme will see the ECB buy a total of 60 billion euros of public and private assets per month, starting in March 2015 and running through to September 2016.

Although the ECB denied that a weaker euro was a target, the impact of the news has significantly devalued the euro. This will help to boost exports and inflation across the Eurozone, as investors and importers outside the Eurozone take advantage of the exchange rate.

As a result, the euro has now fallen 3% against the USD and 2% against the pound over the past 24 hours. Volatility is expected to remain high as the market continues to digest the news.

This recent move offers a great opportunity for euro buyers to secure a positive exchange rate for your clients.