The deadline for the Greek debt swap is due at 8pm today with a majority of bondholders to agree to taking over a 50% cut in the value of their holdings. Should this swap be signed of tonight we could see some major Euro strength however, should the deal fail then we are back to square one, a Greek default is on the cards and we could see Sterling Euro exchange rates push up to new highs. This means today could be one of the most important days in the currency markets for some time and if you need to transfer money internationally then speak to us today.
Not only is this a big day for Greece and the Euro (EUR) because of the debt swap we also have interest rate decisions for both the UK and the Eurozone at midday at 12:45pm respectively. There is still a possibility of Quantitative Easing (QE) for the UK and the following press conference for the European Central Bank (ECB) could give indications not only to the health of the EU economy but also expectations for the Greek debt swap later on in the evening. To get the latest news during this important day in the currency markets speak to one of our experienced currency brokers on our freephone number 0800 328 5884 or email email@example.com