Hi, I have a fixed rate £ to € of 1.382
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On Friday, 8th May 2015 following question to our expert...
I have a fixed rate £ to € of 1.382 do you think that this rate is likely over the next few days? Or should I take a trading rate of 1.367 now? FYI - want to transfer £92K.If Greece cannot make their payment this month will the € weaken ?
And if so would you advise waiting to exchange?
On Friday, 8th May 2015 ...
My feeling is that the Greek debt stand-off might prove to be a red herring. Greece has stated that it wants to stay in the euro and the alternative was bring increased levels of privation. Equally, the eurogroup is desperate for Greece not to exit the euroland – if it did, Italy or possibly Spain could follow, hastening a break-up of the single currency.
If Greece misses a payment to its creditors, then the euro would weaken significantly. However, I don’t think it will.
Meanwhile, the Sterling euphoria which has followed today’s UK General Election result may wear off when investors begin focussing on the EU In/Out referendum which will follow.
For this reason, I think you should consider acting sooner rather than later on this requirement.
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