International money transfer service
Euro climbed to a 3 week high against the US dollar. Euro remains bullish in the short term, buoyed by market expectations for a rise in interest rates next month. Greek Parliament now set for 5 year austerity plan; higher taxes and plans for asset sales mean Greece will receive their next tranche of IMF and ECB loans to the tune of 12bn euros, staving off default.
EUR/GBP: Sterling continues to underperform
Sterling continues to underperform against most currencies, although gained against the US dollar. The UK’s Consumer confidence survey is due out today, but is not expected to make happy reading. BoE Credit Conditions survey is published later today. UK public sector out on strike today in protest against government’s austerity measures.