Currency Note Euro

Euro still struggling…

By Ricky Bean February 16th, 2015

The euro continues to weaken against sterling. Following a difficult few weeks, it may still worsen for the single currency. Last week’s developments with Greece and European Union officials ended without an agreement on Wednesday, though both sides said there was still hope for a deal, and further talks are due to be held today.

Greece’s current bailout is due to expire on the 28th February – the new Greek government is very much against extending it, which is fuelling fears over a conflict with its creditors – this could trigger the country’s exit from the eurozone.

Good news came at the end of the week in the form of the German consumer confidence index, which rose to a 13-year high of 9.3 for February, providing a glimmer of hope for the in the coming weeks. Business confidence for Germany is likely to remain high this week, and with the Purchasing Managers Index (PMI) from Europe out on Friday, this is forecast to strengthen compared to last month’s figure.

In these uncertain times, if you are looking to buy or sell euros, we suggest contacting your trader now for live rates, news and currency-purchasing strategies.