By Alex Ellis

Sterling has spiked 1.78% today as levels have seen a massive improvement since the announcement yesterday that the Eurozone was planning some form of bailout for Greece. This announcement would generally be a positive for the Euro however the currency market has a habit of dishing out surprises and yesterday was no exception.

For anyone looking to sell Euros and buy Sterling yesterday and today, then if you bought around the low point of the day yesterday then on a €200,000 Euro transfer you would’ve gained an extra £3,530.62 compared to trading levels today.

Sterling exchange rates remain fairly low against the Dollar and therefore for anyone looking to trade this pairing it may be worth noting that some analyst are predicting that levels could be as low as 1.52 in the coming months.

In times such as these it makes sense to keep in close contact with an experienced currency broker who can help manage your risk whilst the market remains so volatile.