Exchange Rate Euros Improves as Euro Debt Crisis Eases During 2012’s First Quarter.

May 2nd, 2012

The exchange rate euros picture is starting to improve as the euro saw its highest rise in over four months against the yen in Asian trade during March 2012. It also enjoyed significant improvements against the dollar as the euro debt crisis eased towards the end of the first quarter. Now is the best time in quite a while to get the best exchange rate for euros.

The euro was trading at 111.03 yen in Tokyo during mid March 2012, slightly higher than in New York – at 110.66.  It then went on to rise further still to 111.14 yen, the highest ever since the 31st of October 2011, when it rose to slightly above 111.00 yen after a yen sell off by Japan.

Economists and financial experts are predicting that the exchange rate euros could get close to its post intervention high of 111.57 yen as the euro crisis eases up. Concerns over Europe’s sovereign debt crisis have decreased as Greece receives yet another bail out payment of over 7 billion euros, which is the equivalent of nearly $10 billion; this is the second international bailout of this kind that Greece has received. It was thought at one point the bailout would not happen and this would have had quite crippling effects on the exchange rate euros across the world foreign currency markets.

It is also thought that the dollar will climb to above 84.00 yen, this is based on the realisation of predictions that the US housing market is expected to enjoy a boost during February and March 2012.  A survey conducted by Dow Jones economists predicts a surge of US real estate sales of nearly $5 million, a significant increase on January of 1.3 per cent.

Best Exchange Rates UK associates are continually monitoring all areas of foreign currency exchange and world money matters. It is important that as a foreign currency exchange rates companies, that they are constantly up to date with what is going on in the economy, exchange rate euros and all world currencies – so that they can advise our customers wisely.