The Euro has started to claw back some of its recent losses after both German Chancellor Angela Merkel and French President Nicolas Sarkozy both said they are as to close to certain as they can be that Greece will stay in the single currency. As we reported the other day there had been rumours circulating at the end of last week about the possibility of Greece pulling out of the single currency. This positive stance coupled with the success of yesterday’s Spanish bond auction has eased pressure on the Euro short term.
Although the Euro is experiencing a short term period of positivity at the moment I personally don’t see it lasting too long, and all the positive sentiment in the world still doesn’t pay the bills. As time goes by I feel the debt crisis in Europe will worsen to such a level that one of its members will look to pull out and this could and probably would spell the beginning of the end for the single currency.
Unfortunately yesterday’s prediction came true and Sterling has lost a fair amount of its recent gains against the Euro but we still another bite of the cherry is in store so looking to buy Euros at 1.1500 in the next or so should still be an option and now would be a good time to look at what you have ahead and consider an order at this level as it can only be seen as good value for money.
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