Talks in Greece have been postponed again as the pressure continues to mount on the Greek government to come to an agreement with private creditors to write off 50% of Greek debt in order for the debt laden country to receive its next bailout tranche. However, Greek PM Papademos has stated that a draft agreement has been written which if correct, could mean we are soon to hear from Greece and once this is resolved it could lead to Euro strength. However, in Germany figures showed exports hit a new record high at one trillion Euros in 2011 showing that Europe’s largest economy is still performing well which was good news for the rest of Europe. Euro exchange rates have remained relatively flat against Sterling over recent weeks as the two economies have had mixed economic news released showing that both economies are close to a possible recession meaning both currencies are under pressure.
Meanwhile in the States we have heard that despite Mitt Romney’s recent victories to be the Republican Candidate nominee in a number of States a new candidate, Rick Santorum, has now won three States in a row putting serious pressure on Romney. As mentioned previously on this blog, the long term future of the US economy and therefore the Dollar could could come down to the upcoming presidential elections in America. As new candidates such as Santorum emerge as possible candidates for the White House there economic policies and there plan for the country will be analysed and this speculation could lead to Dollar movement especially the closer we get to the election. So, if you need to buy US Dollars then speak to one of our currency brokers who will be able to keep you informed of any developments in the markets that could effect your money transfer. Call us today 0800 328 5884 or email firstname.lastname@example.org