Euro buying opportunity as Italian politics causes concern

The Euro has weakened as investors struggle to make sense of the latest news from Italy and their political situation as we wait to learn the latest coalition proposals. This has been directly linked to the latest news from the 5-Star party and also the far-right league who have both indicated that they are pursuing an agenda which does not conform to the current visions embodied by Merkel and Macron.

Aiming for deeper integration we have seen the Euro rising on the back of previously held views which believe the Eurozone is likely to grow close together and represent a more solid foundation for the future. This highly held view is now under threat as we begin to see a worrying picture emerging of political uncertainty which might create some concerns for future.

The Italian situation could easily spiral out of control as markets being to digest the latest news which is emerging of a government that does not correspond to the high expectations being placed on them. Any breakdown in talks or pursuit of policies which go against the current sentiments from the EU will ultimately lead to a concern for the markets that the Eurozone has some tough questions to answer on the politics front.

GBPEUR has nearly hit 1.15 this morning and EURUSD hit 1.17 today, these are excellent fresh opportunities which may not last if the current viewpoint suddenly deteriorates. If you have a transfer to consider in the future then making plans in advance is sensible to try and avoid the prospect of the market suddenly moving against you.

For more information at no cost or obligation please don’t hesitate to contact me Jonathan buy emailing jmw@currencies.co.uk

Thank you for reading and I look forward to hearing from you.

For more news on foreign exchange rates and to request a free no-obligation quote visit www.currencies.co.uk