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Where Next for EUR Exchange Rates? (Matthew Vassallo)
The EUR has continued to come under pressure against most of the major currencies during the early part of the trading week, with GBP/EUR rates hitting a fresh 7 year high during Monday’s trading. This move was enhanced due to the uncertainty surrounding the current Greek debt crisis and the failure to reach an agreement with its creditors.
However, reports today have indicated that Eurozone finance ministers have agreed to reform proposals submitted by Greece in order to extend its current loan repayment deadline and this is likely to ease pressure on the single currency if confirmed. Whilst the approval still needs to be rubber stamped, it is the first inclination that we may find a positive resolution and will be welcomed by investors hoping for the recent market volatility to subside.
Looking ahead and tomorrow’s speech by ECB president Mario Draghi is likely to be key and could cause additional volatility on EUR exchange rates, as could Thursdays UK GDP figures.
If you have an upcoming currency requirement and would like to be kept up to date with all the latest market movements, or simply wish to compare our award winning exchange rates with your current provider, then please feel free to contact me directly on [email protected]
Source: http://www.eurorateforecast.com/2015/02/24/where-next-for-eur-exchange-rates-matthew-vassallo-4/
