Foreign Exchange Midweek Market Update

Range of the week: 1.2505 – 1.2328

Variance of the week on £10k = €177

With nothing major in terms of data, and no major scare stories coming out of either the Euro-Zone, or the UK for that matter, the Euro has continued to strengthen back against the pound since last week’s update, although the pound has regained a little ground this morning.
Longer term, at their annual meeting in Tokyo, the International Monetary Fund has urged Eurozone leaders to act swiftly in response to the debt crisis in Greece and Spain, or risk dragging down the global economy with another financial crisis.