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Currency Market News

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Bankia bailed out in Spain
27 May 2012

The Spanish government has had to step in with €19bn to bail out Bankia - the biggest bank bailout in history.

The Euro weakened on Friday as you might expect, giving better rates for Euro money transfers, but only a little against the Pound, which is heavily exposed to European debt. The biggest moves have come against the US Dollar, which has strengthened against both the Euro and the Pound significantly this month.

This week, there is little important data due out around the world as we head towards month end, so the ongoing Euro crisis is likely to dominate headlines and exchange rates.

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