This weekend is the most important weekend in the history of the eurozone, as a potential country could exit! Alexis Tsipras (Greek Prime Minster) has submitted final reforms to EU leaders. EU leaders are now set to report back on sunday with their final decision. If you are a regular reader my opinoin has still not changed. I have always excliamed a deal would be struck in the final hour.
What could happen to GBP/ EUR exchange rates next week:
Option 1: Greece and EU leaders strike a deal for further bailout funds which should strengthen the euro and GBP/ EUR exhange rates fall.
Option 2: EU leaders reject the reforms proposed by Tsipras and a ‘Grexit’ becomes likely. Exchange rates therefore rise.
Option 3: Talks continue after the weekend and GBP/ EUR floats around 1.38-1.40.
For clients looking to buy or sell euros in the upcoming months the Greece story is going to dictate how much currency you recieve. Over the last month GBP/ EUR exchange rates have fluctuated 6 cents. Clients that bought €150,000 at the high compared to the low would have saved over £4,500. Where as clients that sold €150,000 at the low compared to the high would have made £4,500. If you are looking for further advice feel free to email me directly email@example.com.