Angela Merkel Goes to Greece (Jonathan)

The Pound Continues Its Fightback

Angela Merkel the German Chancellor’s visit today to Greece is capturing all the headlines. She is deeply unpopular in Greece and is seen as the cause in many respects of the crisis. A wide range of protests in Athens at her visit is symbolic of this. It is unlikely we will see any particular changes in economic policy as a result of this visit but there is plenty of opportunity for something to occur which captures the headlines.

GBPEUR took a bit of a nose dive yesterday as the UK Chancellor signalled more cuts are on the way and it became clear following IMF estimates the UK’s economic recovery was still on the ropes. The launch in Europe of the ESM (European Stability Mechanism) which will act as a backstop to aid indebted nations also helped the Euro find favour.

The big events I am highlighting to clients looking to trade at present is next Wednesday’s Bank of England Minutes and the UK GDP estimate for Q3. Currently at some of the worst levels for buying Euros in the last couple of months, we are seeing a great opportunity for Euro sellers. If I was selling Euros I would be preparing to move sooner rather than later in case current levels fade.

It would be impossible to run through every piece of important information for anyone interested in the GBPEUR pairing in one post so if you are considering any GBPEUR trades whether buying or selling Euros, I encourage you to get in touch. I am a  currency specialist working for one of the UK’s top currency brokerages and can assist not only with a commercial rate of exchange but also all the information you will need to make an informed decision.

You can reach me directly on 01494 787 478 or email [email protected], please ask to speak with me Jonathan and quote GBPEURO Forecast.

Thank you,