Greece causing uncertainty for Euro exchange rates (Tom Holian)

GBPEUR exchange rates have had another good week recently as fears persist that Greece may run out of money in the next few weeks.

They have recently seen another credit rating downgrade and although they made their recent payment of EUR450mn to the IMF on April 9th they still have a long way to go.

President Obama said on Friday ‘they have to collect taxes. They have to reduce their bureaucracy, (institute) more flexible labour practices.’ German stock markets saw a big fall and the ongoing uncertainty could cause further Euro weakness.

Over the same timeframe the UK general election takes place and with no party yet close to forming a majority this could easily lead to another hung parliament.

At the last election the uncertainty saw a big and quick fall for Sterling vs Euro exchange rates so it may be worth locking into a forward contract.

This allows you to fix a rate for the future and eliminate the potential exposure of what may happen in the future.

If you have a currency transfer to make and want to save money on exchange rates compared to using your bank then contact me directly for a free quote. Tom Holian [email protected]