Greek Bailout Sorted? (Tom Holian)

GBPUSD Surges as Dollar Weakens Across the Board

Sterling Euro exchange rates have fallen for the last 6 out of 7 trading sessions falling by as much as 6 cents during this time.

The weekend before last the Greek interior minister claimed that there is no money left to give in Greece but since then Greek finance minister Varoufakis has settled the markets.

Recent Eurozone data has been very positive with the release of inflation coming out a lot higher than expected.

With inflation rising on the continent this is good news for the Eurozone as it provides evidence that the QE introduced earlier in the year has started to work or so it seems.

UK manufacturing and industrial production data is due out tomorrow and I think this could be negative as Services & Manufacturing PMI last week showed a fall.

US Retail Sales are due tomorrow afternoon and if positive we could see Dollar strength resulting in Euro weakness providing a short term opportunity to buy Euros at a better rate.

If you have a currency transfer to make and want to save money on exchange rates compared to using your own bank then contact me directly for a free quote. Tom Holian teh@currencies.co.uk