GBPEUR anticipates bank stress tests
GBP EUR exchange rates had been relatively stable this week, however friday has seen almost a 1% swing already. One reason for this could be traders and investor second guessing the stress test results from European banks.
Last month the liquidity fears in Europe were shelved as the banks took up new loans without major incident, now the markets are looking to upcoming stress tests as an indicator of the financial health of the European banking sector. Anyone interest in a euro transfer, be it EUR GBP, GBP EUR, USD EUR or any other EUR currency pair should look out for the results on 23rd July. Positive news from the banks should lead to EUR strength where as any issues will have the potential cause significant EUR weakness.