The talks at the EU summit are still ongoing and as yet no solution has been offered which is causing havoc for Sterling Euro exchange rates.
There is still a lot to do at the summit and Cameron has not been able to agree the deal he is looking for ahead of an in and out referendum regarding the UK’s position within the EU.
It appears as though all the member states want to keep the UK in the bloc and I think we may not see a resolution offered today.
If we don’t see an agreement reached during today’s meeting then I expect this to cause big problems for the Pound as it simply prolongs the uncertainty surrounding Sterling and confidence will drop.
The next meeting to discuss the issue will take place on 17th March and I would expect big falls for the Pound during this time if nothing gets sorted today.
Later on today the UK announces Retail Sales and with the weather having caused problems and the flooding in various parts of the country I expect the data to come out lower than expected.
If you have a currency transfer and are worried about the implications of this summit will have on your exchange rate then contact me directly for a free quote. Tom Holian [email protected]
Alternatively call me on 01494-787478 and ask for Tom Holian when calling in.