Currencies Direct

Currencies Direct

October 11, 2011 07:40 ET

Currencies Direct Spy Optimism in the Markets Despite Eurozone Doubts: Good News for Currency

The currency exchange experts find a rally against fears that European debt repayment would cause widespread contagion in UK as well as peripheral EU countries

LONDON, UNITED KINGDOM--(Marketwire - Oct. 11, 2011) - Whilst the majority of the financial media are patiently waiting in trepidation amidst fear that the spiralling debt of several EU countries could contribute to a double-dip recession in the UK, currency exchange experts Currencies Direct have spied a note of hope in its Daily Market Reports.

Carefully measuring day by day changes in the markets and financial press, Currencies Direct economic specialists have concluded that a sense of optimism is in fact pervading the markets this week, stemming from hopes that European authorities will ring-fence Greek debt and avoid a Euro-wide crisis.

Rumours are that this may involve a eurozone adaptation of the United States's Troubled Asset Relief Program. Numerous approaches are under consideration from the authorities, including a policy rate cut, banking sector recapitalisation and increasing the size of the EFSF bailout.

Despite long term obstacles such as German votes on the EFSF bailout fund, and upcoming meetings of the European Central Bank in early October, this week is looking brighter for the Euro – and those making any exchanges between the currency.

Philip Ryan of Currencies Direct, which offers a comprehensive range of foreign exchange solutions, comments:

"Whilst the long-term economic stability of the Eurozone is still up for debate, there is little doubt that this week's improved mood has meant - in the short term at least – that the Euro is unlikely to slide any further.

European currency appears to have a base forming at just under 1.35 against the USD.

Until we see the results of the upcoming EFSF and ECB meetings, we have high hopes that this will remain a more secure week of trade for customers moving cash between the Eurozone."

For more information on Currencies Direct's work on currency exchange and how this can help you move money around the world, go to the website at: http://www.currenciesdirect.com/.

About Currencies Direct

Currencies Direct (www.currenciesdirect.com) is one of Europe's leading non-bank providers of foreign exchange payment services. Since its formation in 1996 Currencies Direct has evolved and positioned from being an innovative service provider of foreign exchange for consumers and high net worth individuals into a dynamic and pioneering 'business to business' fully integrated treasury solution service provider. Head quartered in the City of London (United Kingdom) with operations in Europe, Africa, Asia and the United States, Currencies Direct is part of the Azibo Group, a privately owned investment company (www.azibogroup.com)

Currencies Direct can typically save clients up to three per cent of the overall amount of money being transferred compared to mainstream banks. And, unlike most other exchanges, it does not charge a commission and waives its transaction fee on deals above £5,000.

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