Bank of England minutes due today

After a turbulent couple of days on the markets, following the Greek election at the weekend, the focus shifts to the Bank of England’s monthly meeting minutes out at 9.30am this morning. The minutes give an insight into the Bank’s thinking from their last meeting and can give an indication of future policy. Following the Chancellor and the Bank’s governor announcing a new bank stimulus last week, it would not come as a surprise to learn that they have also discussed extending the Bank’s quantitative easing policy (injecting more money into the economy). If this does come to pass then the Pound will almost certainly drop away and therefore if you have an upcoming currency requirement, booking sooner rather than later is probably a good plan.

This evening sees the Fed’s monthly policy meeting statement as well, and while there is no particular expectation of any change in their interest rate position, it will be interesting to hear what the Fed chairman has to say, for anyone with a Dollar requirement. The Dollar has been able to strengthen significantly recently, mainly due to the Euro’s weakness, but many observers point out that the strength is not backed up by positive market sentiment and as such we could be in for a bumpy road as far as the Dollar is concerned.

At the European championships England have managed to reach the quarter final stage, following their less than inspiring 1-0 win over co-hosts Ukraine. France are also through despite losing 2-0 to Sweden. If you are lucky enough to have got your hands on a ticket for the quarters then enjoy your trip, and while Currency Index can’t help with your travel money, we can help if you decide to up sticks and buy yourself a Polish holiday home.