Despite us seeing a little positive news from the Greek election polls over the weekend Spain is still a major talking point surrounding the Euro. Spanish bonds are creeping ever closer to the 7% level which is notorious for being roughly where countries have ended up requesting a bailout.
The Spanish Prime Minister also said yesterday “We are not going to let any region of finanicial entity fail, because otherwise the country would fall.” Lets be honest this does not sound particuarly promising and one would imagine that if Spain does step forward and need either bailing out as a country or indeed if we see another large Spanish Bank require further assistance then alarm bells should ring for the Eurozone.
The problem is, this would also impact heavilly on the U.K and we could well find that the Pound is hit fairly badly as well, regarding GBP-EUR exchange rates you may well see a min or climb following anything like this happening but personally I feel itn would be short lived due to the longer term implications for the exposure of the U.K.
You will more than likely find investors putting money into the U.S Dollar which would possibly strengthen accordingly.
If you have an upcoming currency requirement and would like assistance in both getting the very best rate of exchange and a great level of customer service too. Feel free to contact me directly quoting Pound Euro Forecast in your subject title and email me [email protected] or fill in the form on the right hand side of this page.