| Online: | |
| Visits: | |
| Stories: |
| Story Views | |
| Now: | |
| Last Hour: | |
| Last 24 Hours: | |
| Total: | |
How will the Election affect Sterling Euro Exchange Rates? (Tom Holian)
Sterling Euro exchange rates have already seen a big fall over the last few weeks from the high reached in the second week of March.
The currency markets have recently been very volatile and difficult to predict. However, as the election campaign has now begun I think we could be in line for some further instability for Sterling vs Euro exchange rates as it is not clear who will get into power in May.
No party is close to forming a majority so the likelihood is that a coalition government will be formed and in the interim we will see a hung parliament.
When this happened previously the rates for Sterling vs Euro fell by over 3% in a few days until the decision was decided to go with a Tory led coalition government.
The live debates last night did little to show a frontrunner and opinion polls have confirmed the same.
Looking at what is happening in the Eurozone economy at the moment the Greek deputy finance minister has this morning confirmed that they will be able to pay off EUR450mn of debt owed to the IMF on April 9th. This is a good sign for the Eurozone as it shows the current plan is working and that Greece may be able to stick to their promises.
However, this is only one of many payments due so just because they will be able to make this one doesn’t necessarily mean they will be able to manage the ones in the future.
If you have a currency transfer to make and want to save money on exchange rates compared to using your bank then contact me directly for a free quote. Tom Holian [email protected]
Source: http://www.poundsterlingforecast.com/2015/04/03/how-will-the-election-affect-sterling-euro-exchange-rates-tom-holian/
