Greece Deal Agreed – Euro Strength – When to Buy Euros? ( Andrew Bromley )

GBP – EUR is still incredibly volatile on the expectation of a potential Greece resolution. Markets understand that an extended ‘conference call’ on Monday evening between Angela Merkel, Francois Hollande and Alex Tsipras ( German, French and Greek senior ministers) indicated a revised bailout stance from Greece. As Greece are due to repay over €300m on Friday, it is very much last chance saloon. GBP EUR rates have also been hit by poor UK data, including very low services data this morning – rates touching 1.3689 at their most volatile.

As rates were as high as 1.41 last week and now 1.37, I’d be inclined to say that finally an agreement has been reached. Therefore if I were buying Euros I’d get my exchange done ASAP! Those selling Euros may wish to get orders in to the markets to take advantage of a favourable spike…

Feel free to get in contact should you have an exchange requirement…    [email protected] or call 01494 787 478 (please quote this blog)