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Is Greece still causing problems for the Euro? (Tom Holian)
If you’ve been been watching Sterling Euro exchange rates for the last few months you will have noticed that not only have they hit their highest level to buy Euros in 8 years but they have also been heavily impacted by the ongoing Greek crisis.
With Greece still making headlines although things have got better recently and with a new debt package in place things are still not quite right between them and the IMF.
The IMF wants more changes to the current package and whilst the problems persist this is one of the main reasons why the Euro remains weak against both Pound Sterling and the US Dollar.
Indeed, Eurozone inflation data published on Friday showed an improvement to 0.9% which proves that QE introduced back in March 20215 is beginning to work.
This gave the Euro a brief amount of strength vs Sterling but this was short-lived.
Without the Greek crisis you would typically expect the single currency to have continued to strengthen during Friday’s trading session but it is clear that this is still dominating the currency markets.
Sterling ended the week trading at 1.42 on Interbank levels.
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]
Source: http://www.eurorateforecast.com/2015/08/01/is-greece-still-causing-problems-for-the-euro-tom-holian/
Greece has now eased up the situation, so I don’t think it’s causing too much issue, but as a trader I am very careful in how I trade, if I make even the slightest mistake, it can create huge problem. I am lucky that I have very highly supportive broker like OctaFX to help me out with their daily market news and updates which is absolutely free yet the results are just too good and that’s why I am so successful!