Sterling falls against the Euro following Greek Bailout and the Fed Minutes

Sterling Euro rates have fallen by over 2 cents during today’s trading session and the biggest daily drop for many weeks.

The Federal Reserve minutes published last night suggested that the US interest rate rise which was predicted for September is now off the agenda which has caused huge Dollar weakness and Euro strength.

This has created some excellent opportunities to once again sell Euros into Pounds and those waiting for better rates to buy Euros will likely be disappointed having waited arguably too long in the hope that exchange rates would rise.

Germany yesterday agreed in parliament to the Greek bailout which has seen Greece get their next bailout and be able to meet their debts for up to the next three years.

Greek PM Alexis Tsipras has called an election on 20th September  and is likely to resign in order to make way for the elections.

I think the job has become so difficult as the Syriza party came in as the austerity party but has had to renege on many of its electoral promises.

This news could see the single currency gain even more strength vs Sterling over the next few days.

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]