Many will have thought that the Pound would have gained against the Euro of late but the main thinking is that should the Euro Zone as a whole group together and bail out Greece and other failing economies then who is going to be there to save the U.K????
This has led to the Pound falling not sharply but gradually and a bailout package is expected to be announced before the end of the day.
Last time this all came about the Dollar weakened as investors found more confidence in the Euro as they proved they can withstand these sort of problems.
They in turn pulled funds from the Dollar and gold (priced in Dollars) and put it into the perceived 'riskier' Euro in order to attempt to gather a higher return.
This is a brief summary of todays report for further information on the currency markets or if you have an upcoming transfer to make and want to discuss the options available to you call Daniel Wright on 01494 787462 or email me djw@currencies.co.uk
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Have a great day and thanks for reading!
Daniel Wright
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[09:07:23] Chris Knights:
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