Euro cheaper as US nears key debt vote

2 August, 2011


The Euro has continued to weaken in morning trade today, as the US Dollar gains value ahead of today’s debt vote.

As often happens when there is major news in the Eurozone or USA, sterling has been stuck between a weakening Euro and stronger US Dollar, as markets react to the likely approval around 5pm today of the US debt package, which is likely to raise the American lending limit enough to last through the November 2012 elections.

The result today has been rates for buying US Dollars falling back (although still relatively good) with rates for buying Euros now at their best for 2 months. If you would like a quote on your own transaction please call us on 0800 043 2623 or 01923 725725.