Greece Thrown Final Lifeline

It was a fairly quiet end to last week for our most commonly traded currency pair, GBP/EUR, with the cross remaining in a tight range for most of the day. It was a different story for GBP/USD however, as the US currency lost nearly one percent to the pound. Optimism over the potential for an … Read more Greece Thrown Final Lifeline

Greece vote ‘NO’

The much awaited Greek referendum took place yesterday and the Greeks have quite surprisingly voted ‘NO’ to the current bailout offer that was on the table. Although this was a highly anticipated event on the currency markets it did little to affect the euro, with the single currency dropping 0.5% against the pound and 0.4% … Read more Greece vote ‘NO’

Greece: We won a battle, not the war

Tspiras fails to deliver on election promises Yesterday we saw the Greek left wing government finalise and present plans to their international creditors, in a bid to be granted a vital four month extension on Greece’s debt repayments. The proposal shows a crackdown on tax evasion and overhauls the country’s minimum wage, but is widely regarded as a … Read more Greece: We won a battle, not the war

Spectre of Grexit continues to haunt Eurozone

Greek face-off with EU helps boost sterling The currency markets are alive once again as Greece continues to play poker with their creditors, BoE governor Mark Carney makes another speech addressing the UK’s inflationary battle and central banks globally attempt to contend with geopolitical headwinds. Sterling had one of its most bullish days in recent weeks … Read more Spectre of Grexit continues to haunt Eurozone

Germany expects negotiations with Greece to drag on

Chancellor to play waiting game German chancellor, Angela Merkel, expects negotiations with Greece about possible debt restructuring to drag on until bail-out funds run out. She has said that the EU are prepared to play a waiting game until April/May when the country approaches a cash-crunch. The Chancellor is taking a tough approach with the … Read more Germany expects negotiations with Greece to drag on

GBP/AUD falls to mid $1.80s

Aussie dollar benefits from European turmoil The Australian dollar has now gained six cents against the pound over the last month, as problems in the Eurozone help push GBP/AUD lower. Both the antipodean dollars have benefitted from these issues, as investors seek higher yielding assets. Low oil prices have also had a positive knock-on effect … Read more GBP/AUD falls to mid $1.80s

Euro close to 9 and 6 year low against dollar and sterling respectively

Euro close to 9 and 6 year low against dollar and sterling respectively The euro breached below $1.19 yesterday to post its lowest mark against the dollar since 2006. Although the single currency clawed back some gains against the pound, it is still flirting with the worst rates in 6 years versus its cross channel … Read more Euro close to 9 and 6 year low against dollar and sterling respectively