The pound has had a mixed week again, gaining ground against the Dollar and the ‘riskier’ currencies such as the Australian Dollar, New Zealand Dollar and South African Rand yet finding it tough against the hard to knock down Euro.
With the once again increasing speculation of a fully blown Spanish bailout due to numerous areas within Spain needing assistance of late I would have thought the Euro would have experienced a tough week yet we have seen quite the opposite – Personally I feel there is no smoke without fire and there is an awful lot of smoke over Europe at present so there is certainly a storm brewing in my opinion and we could see problems come to light on a much larger scale than we have seen before in these next few weeks and months.
We also have the Jackson Hole meeting over the weekend which may throw up absolutely anything, it is a meeting of Central bankers, policy experts and academics and may lead to a movement from Central banks at some point in the future putting new measures in place together in an attempt to assist the markets in this global crisis. This kind of activity could lead to huge volatility so please be aware if you have a pending currency transaction to carry out you need to have a proactive and efficient currency broker on your side assisting you all the way.
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