Euro exchange rates still under fire although rescue talks calm fears

Euro exchange rates are still under heavy pressure although this has eased as fears over the sovereign debt crisis eased slightly as further bailout talks continued.  However the credit downgrade of many UK institutions and Belgium’s bailout of Dexia bank highlight just how volatile GBP EUR rates are likely to be.  The lack of an interest rate cut last Thursday helped create a little more confidence as it suggests the ECB do not feel things are not as desperate as to merit a cut (the benefit of which masy be questionable anyway) and the recapitalisation of European banks has halped the Euro to fight back to levels close to Thursdays high against the pound.  If you need to buy or sell Euros and want to take advantage of the current volatility then please feel free to call 01494 787 465