It is expected that Eurozone finance ministers will meet over the course of this week to focus on the Greek debt issue. According to the International Monetary Fund (IMF) Greece need approximately €130 billion rescue package before the end of March and as the deadline comes ever closer the pressure will be on the European finance ministers to come to a swift resolution in order to avoid a Greek default. Over the weekend private creditors failed to come to an agreement to write off some of the country’s debt however it is expected that this week the creditors will continue to work on an agreement. With so much uncertainty in Europe the currency markets have remained surprisingly flat with Sterling Euro exchange rates sitting around the 1.20 mark still resulting in some good buying levels for clients looking to buy Euros. If you are looking for great exchange rates then contact us today on 0800 328 5884 to discuss the market outlook and all the options open to you with Foreign Currency Direct.
Over the course of this week sees a number of data releases including the Bank of Japan interest rate decision, UK public sector net borrowing both on Tuesday, the Bank of England minutes, UK GDP and the US and New Zealand interest rate decisions on Wednesday and US GDP figures on Friday. To find out how these data releases could effect your currency requirements speak to one of our experienced currency brokers today on 01494 725353 or email email@example.com.