Over the next two days leaders of EU countries are meeting to discuss the current debt issues and budget levels across Europe and the headlines hitting the UK at present are that David Cameron is to resist any increase in the EU’s long term budget. There have been calls from some parts of Europe to increase spending over the next 7 years in order to help the single currency economy grow. Cameron however believes that an economy which is in so much debt should not be looking to increase its debt levels by spending more and should look to be cutting back its spending. Both France and Germany are calling for spending increases which is likely to test the relationships between Cameron and his German and French counterparts. As a result I would expect the next couple of days to be a little more volatile than we have recently seen and therefore could mean we see some key movement on Sterling Euro exchange rates.

So, if you need to send money abroad and are looking for great exchange rates make sure you stay in close contact with one of our experienced currency brokers here at Foreign Currency Direct plc so they can discuss your currency requirements and the options available to you. You can call straight through to our trading floor for free on 0800 328 5884 or if calling from abroad on 0044 1494 725353 or email me directly on trh@currencies.co.uk.