It seems the news emerging out of Greece that an emergency meeting has been called for Monday has upset the markets enough to move rates back above 1.40 before UK trading has started.
Christine Lagarde (Head of the IMF) stated that the Greek authorities needed to come up with ‘tangible and deliverable’ measures to tackle the debt indicated that the IMF has given Greece more than enough grace and flexibility recently. Furthermore, she pointed out there would be ‘no period of grace’ over its impeding debt repayment.
Overnight thousands rallied in Athens to make sure Greece stay in the Euro. It seems markets are finally treating this latest bout of Greek intransigence with a bit of seriousness. My advice would be to continually watch the rates today. UK markets have not even opened yet. When they do in 30 minutes there could be a flood of money being brought out of the Euro. So those with Euros to sell at that point should contact me on 01494 787 478 and ask for Joshua to achieve the best rate of exchange before this slips away. Similarly if you have Euros to buy, call if the rates start to slide and I can provide some indication of what they may slide to, and whether it would be prudent to wait to buy until after the weekend. [email protected]