Sterling has today reached a 4-month high versus the euro as events in Greece, coupled with pre-EU referendum campaigning, continues to cause market volatility.

The latest episode in the Greek bailout saga hit the wires yesterday and resulted in a bout of euro weakness.

Markets reacted with concern during yesterday’s latest Eurogroup meeting which was held at the EU headquarters in Brussels, after the IMF – who remain a key player in any talks – said on Monday night that Greece has no chance of meeting the terms of its current bailout plan without ‘upfront’ and ‘unconditional’ debt relief.

Negotiations went on into the early hours of this morning and we now know that European officials have agreed to give Greece access to a €10.3bn (£7.8bn) tranche of bailout funds.

Meanwhile, in the UK, market sentiment continues to move in favour of the ‘Remain’ in the EU campaign. Recent results from the latest opinion poll suggest that warnings from several senior officials about the risks to the economy if the UK were to leave the EU have resonated with the voting public.

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