Emergency budget – how will the cuts in spending affect the pound-euro exchange rate?
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Tagged with: budget • Emergency • euro exchange rate • exchange • pound euro • rate • spending
Filed under: Currencies
Your guess is as good as mine ..
Right now the Euro is weak becasue the Markets are expecting Greece to default with Spain & Italy to be close behind and Germany likely to leave the Euro order to save itself from the chaos …
The UK£ is not much better = the Markets have already factored in some level of actual spending cuts (and some level of ‘hopes & wishes’ (as opposed to real action) .. but if real actual concrete cuts fail to materialise in the budget, I’ve no doubt UK £ will sink against US $ BUT however bad the Markets view the UK £, the Euro is worse …