The Pound hit fresh 7 year highs against the Euro today, the day high being 1.3650. This comes despite the very real possibility that Greece will finally have succeeded in delaying its request to negotiate bailout terms. You’d have though this as positive news for the Eurozone as a whole, as a confirmed direction for the troublesome Greeks has been craved! Overnight progress is expected to be made with Mario Draghis announcement at 14:00 potentially giving an indication of an extension to bailout terms. Watch This Space!
The US Dollar has a rocky week ahead, as FED Governor Janet Yellen has to answer questions from Congress on the state of the US Economy. January saw rates as low for GBP USD as 1.50 as the FED had indicated an interest rate hike in early 2015. However, the most recent FED minutes were less ‘bullish’, with comments linked to the rate hike being more reserved. The indications now are for the decision to be ‘mid-year’ at the very earliest, providing what could be a good window for USD buyers. This week also has US Inflation data on Thursday and GDP figures Friday – expect a busy rate!
If you do have a currency requirement, please feel free to get in contact on 01494 787 478 – please ensure that you ask for Andrew Bromley and quote this blog – that will ensure access to unbeatable exchange rates! Alternatively, drop me an email to [email protected] – I’ll be in touch with a response. Remember – there are methods of taking advantage of current rates without having to make full payment immediately for the currency!
Have a good evening – Let’s see what impact Greece has tomorrow!