Greece is still in the headlines for all the wrong reasons as Friday’s repayment to the IMF has been delayed until the end of June.
The country owes the IMF a total of EUR1.6bn during June and almost EUR7bn to other creditors and by delaying such a small repayment this week this is clearly not a good sign for the Euro.
To me I think the problem is very political as it is unlikely that we will see a Grexit anytime soon but it will take a long time for this issue to be sorted.
Next week we see the release of Eurozone GDP data on Tuesday. With Eurozone inflation coming out better than expected last week if the data is better than expected we could see a small rally for the Euro vs Sterling.
However, as the uncertainty surrounding Greece continues we could be in for a another volatile week on Sterling Euro exchange rates.
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 [email protected]