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Will Greece be able to sort out their finances? (Tom Holian)
Sterling Euro exchange rates have fallen during the course of the last week as UK average earnings showed a big fall which is likely to affect inflation rates in the UK.
If inflation falls this could ultimately put back an interest rate rise in the UK and therefore affect the value of Sterling.
However, the ongoing problems for the Greek economy is what is keeping Sterling rates high vs the Euro.
Greece appears to have agreed a third bailout deal of up to €86bn but the package has still yet to be agreed by both Greek and German parliament as well as Finance Ministers in the Eurozone.
The Greek problem has taken months to get anywhere near a resolution and the debts keep mounting up until more deals are done.
Therefore, I think the current problem will be resolved over the next few days but that does not really help the situation in the long term.
The Greek economy has growth this quarter which is possibly the reason for today’s short term strength but I think longer term we could see Sterling rise against the Euro.
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.poundsterlingforecast.com/2015/08/13/will-greece-be-able-to-sort-out-their-finances-tom-holian/
