Sterling Euro exchange rates have seen a big drop yesterday and a fall below 1.40 as the Germans agreed the third Greek bailout and the Greeks have also called an election for 20th September.
This has seen a huge strengthening for the single currency against both the Pound and US Dollar.
Coupled with the news in the US that interest rates are now very unlikely to go up in September this has seen Dollar weakness which often results in Euro strength.
The relief that Greece will be able to make their repayments for the next three years has helped to increase confidence in the Euro and hence the currency movements seen this week.
The Eurozone releases services data at 9am this morning and if this shows any signs of positive movement we could see even further gains for the Euro.
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