Just what will happen with Greece and how will this impact sterling exchange rates?

GBP Holds Firm as UK Delivers 2020 Budget After Emergency Rate Cut

Trying to figure out what is next with Greece is a very difficult thing. We just don’t know how the markets will react when there is such a wide range of outcomes! The sensible thing in this case is to plan for all eventualities I feel and take stock of the current rates. Do not be upset if you find out that the rate you had been expecting and banking on is no longer available next week! Trying to make plans in such an uncertain market is of course no easy feat but something I would suggest doing in this environment.

If you need to buy a foreign currency with sterling the current exchange rates are much improved compared to recent years. There is a strong likelihood they could dip once a Greek deal is achieved since many foreign currencies will strengthen as investor confidence returns to the market. The Euro will rise on the back of any positive news for Greece and commodity currencies like the AUD, NZD and CAD will also strengthen. The USD should weaken as it goes against the trend, tomorrow’s Non-Farm Payroll for the US is the big news for the end of the week. For more information at no cost or obligation please contact me Jonathan on jmw@currencies.co.uk