Euro Currency Rate Strengthens but for how long?

The Euro has had a very solid week gaining a good 2c against Sterling and nearly 4c agaisnt the dollar. Ongoing uncertainty about the debt crisis remains but as mentioned in an earlier post, the market did settle down earlier in the week.

Since then against Sterling, the Euro strengthened further yesterday, pushing trading levels back under 1.20. Another turn yesterday as Spain’s borrowing was announced at a record high and yet another EU summit was held to talk over the debt crisis. The market has not reacted too negatively to this with the Euro only weakening off about 1/2 a cent against Sterling over yesterday and following this release.

This morning has seen the Euro weaken off slightly again with trading levels back in the high 1.19’s. Let’s see what the day brings ahead of the anticipated movements next week.

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