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Have Greece finally secured a 3rd bailout? (Dayle Littlejohn)
It appears after much debate between Greek and Eurozone party leaders, Greece are on the verge of securing their 3rd bailout of €86bn. Greek Finance Minister Euclid Tsakalotos spoke to Reuters this morning. He explained a few small issues still need to be ironed out however a deal should be struck by the 20th August, when Greece need to repay the European Central Bank €3bn.
Why have we not seen big movement for GBP/EUR currency pair?
Over recent months we have heard repeatedly that the 3rd bailout will be struck in a week or two and then it never materialises. So I believe until the bailout is actually paid to the Greeks, investors are not confident and are not prepared to invest. I still believe the Euro will make gains against sterling however for clients thinking rates could drop back into the mid 1.35s, think again!
What would my plan be if buying or selling euros?
First things first if you have an upcoming currency requirement you need to be in the position that you can trade when the window of opportunity arises. Feel free to email once you have finishing reading this blog regarding how to activate a free trading account. So, if i were selling euros I would ask my own broker to monitor the market for me, until we see a spike for the euro (off the back of the 3rd bailout actually being paid) and I would look to trade then. If I were buying euros, depending on when I needed them would depend if I buy now or wait. If i needed euros short term 3/4 weeks I would trade as soon as possible and eliminate all risk. If I needed euros in 4+ weeks I would monitor the market and expect rates to dip off for a short period but pick up again off the back of positive economic data for sterling. For more information do not hesitate to contact me directly by emailing [email protected] or alternatively call into the office 0044 1494 787 478 and quote Dayle Littlejohn.
Source: http://www.poundsterlingforecast.com/2015/08/11/have-greece-finally-secured-a-3rd-bailout-dayle-littlejohn/
