Today the leaders of France and Germany are to hold discussions relating to whether to allow Greece an extension on making the necessary cuts before they receive the bailout. The leaders of the two most influencial economies in the Eurozone are due to meet Greek PM Antonis Samaras later on this week to discuss this issue and so we are expecting a volatile period ahead for Euro exchange rates. While the EU finance chief Jean-Claude Junker yesterday stated that there is still a chance we could see an extension for Greece but it seems that France and Germany are not so keen on this happening. Greece has to cut €11.5bn over the next two years but they are finding it difficult to make the cuts as the Greek public continue to show their dislike of having to make such drastic cuts. If you need to buy Euros speak to us today so we can discuss the market outlook in more detail.
Over night we heard minutes from the Federal Reserve Bank of America which stated that the US is close to a sharp slowdown next year and is close to falling off a “fiscal cliff” which resulted in the Dollar losing over a cent against the Pound. As a result there are some excellent opportunities for clients looking to buy dollars this morning, so if you need to send money to America make sure you speak to one of our experienced currency brokers today so they can discuss your currency requirements and the options available to you so you can make an informed decision on when to trade. You can call straight through to the dealing floor for free on 0800 328 5884 or email us on firstname.lastname@example.org