US Dollar at a 5 year high

USD/EUR at 5-year highs.

The US Dollar is still the safe haven of choice. With intensifying fears over China’s covid lockdowns and its impact on the global supply chains causing more concerns for economic growth, investors are still seeking refuge in safe havens such as the US Dollar. Making it a great time to purchase your Euros.

The war in Ukraine continues with no signs of a resolution. With fresh news that Putin will turn off the gas to Poland and Bulgaria, the Euro is coming under more pressure.

Economic data appears to be taking a backseat to these current affairs. ECB policymaker Martins Kazaks stated his preference to raise interest rates in July after the asset purchase programme (APP) ends. However, this appeared to have little effect on the Euro. Meanwhile, the US Dollar may see further support from a FED rate hike in May.

If you do wish to take advantage of the current USD/EUR rate, you can buy your Euros in advance of any payments and Spartan FX can hold your Euros on account for your free of charge.

Speak to our currency partner Spartan FX.

Call +44(0)203 984 0450 or submit an enquiry CLICK HERE or Email