Investors take advantage of weak Euro rates
Disclaimer: THIS MATERIAL IS NOT INVESTMENT RESEARCH AS DEFINED BY THE FINANCIAL SERVICES AUTHORITY
Sterling has continued to surge against the single currency as Greece struggles to finalise the bailout agreement with the EU. Greece has been forced to deny allegations that it was seeking to restructure the rescue package constructed by the EU last month. Borrowing costs have again soared and investors are again questioning the ability of the country to refinance its debt.
The UK election is underway and the next month is expected to be volatile for sterling. Travellers planning a holiday abroad to the Euro-zone in the coming months are advised to consider taking advantage of the recent rally in the sterling by loading their FairFX Euro Cards at the preferential rates.
The 1.48 level is significant for cable as this is a key longer term support level; the pound seems fairly content trading between the 1.48-1.54 region. A clean break of 1.48 would be concerning for sterling.
Wednesday 07 April 2010, 11:35am
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