Sunday, December 11, 2011

For What it's Worth - the Pound vs the Euro

At first sight this graph by x-convert.com seems to show a dramatic fall in the value of the Euro at the end of October, but look more closely...


You'll see that, despite its troubles and the UK government's determination to stay outside the crisis, the value of the Euro in Sterling has still stayed within a narrow range - from above 85 pence to just below 88 pence - over the last three months.

From the way the news has been presented lately you might expect the Euro to have, if not collapsed, at least significantly devalued by now. Now, around 3% is not completely insignificant, but it does suggest to me that there's life in the currency yet.

Either that, or currency dealers are betting on the short term. Maybe even these arch opportunists have faith in European leaders to keep the Euro afloat. One thing is reassuring, though - when you trade daily, disasters are rare!

You can see a full explanation of one reliable daily trading system below.

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