Corporate foreign exchange news

Now may be time to buy foreign currency

Thursday, 21 January 2010 09:30:36 GMT

Published by Mark Smith-Halvorsen
Travellers who have watched anxiously as the pound has plummeted against the euro and other major currencies may do well to buy holiday money now.
This is because concerns about the stability of Greece's economy have helped to push the euro to a five-month low against both the pound and the dollar, news which may be of interest to those who are planning a last-minute winter holiday.
Meanwhile, Jessica Hoversen at MF Global, told the paper that the fiscal situation in Greece could be potentially toxic for the euro.
For those looking further afield, a number of high-yield currencies such as the Australian dollar have also slumped in recent trading sessions as investors have grown cautious of global economic recovery.
China's decision last week to curb bank lending has proved of great concern to many traders who fear that that it may put the brakes on economic recovery in the country.
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