Prepare for Greece to exit the Euro

Published on in Foreign Exchange News by

Mixed messages across the Euro Zone with IMF Head Legarde stating late yesterday that Europe should ‘prepare’ for the exit of Greece from the Euro despite Euro officials stating Greece will not leave. Either way Greece does little to help itself as failure to form a coalition government means another round of elections next month.

As speculation continues so to do the crisis talks. German Chancellor Angela Merkel and new French President Francois Hollande met in Berlin yesterday and will be expected to meet many times more in an attempt to tackle this recent crisis.

Stock markets have fallen with the USD the main beneficiary again. While in the UK’s we saw the our trade balance shrink yesterday, although for the second month exports to the Euro Zone shrank. Still, Sterling traded through technical support at $ 1.6000; a close below here would potentially see lower levels again although the Pound is resilient ahead of UK inflation report.

Lots of data to consider today including the FOMC’s minutes later this evening.

Main Currency Pairs * Yesterday Today
GBP/EUR 1.25069 1.25110
GBP/USD 1.60690 1.59000
GBP/CAD 1.60970 1.60670
GBP/NZD 2.07100 2.07900
GBP/AUD 1.60800 1.60500
GBP/AED 5.89720 5.86270
EUR/USD 1.28460 1.27000
GBP/CHF 1.50120 1.50110
GBP/ZAR 13.1776 13.1461
GBP/SEK 11.2525 11.3032
GBP/JPY 128.300 128.297
GBP/PLN 5.37750 5.40240
USD/PLN 3.34450 3.36560
EUR/PLN 4.30200 4.32250
EUR/CHF 1.20100 1.20100
GBP/MAD 13.8686 13.8453
PLN/EUR 0.23250 0.23130
GBP/CZK 31.7438 31.8898
GBP/DKK 9.29160 9.29070
GBP/HKD 12.4862 12.4658
GBP/HUF 364.712 365.267
GBP/NOK 9.48940 9.52190
GBP/INR 86.7688 86.3017
GBP/THB 50.3912 50.2900

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