After announcing that Greece is to have a rescue package from eurozone countries, Sterling has dropped its value against the Euro in Forex trading today, April 12.

Reuters report that after reaching as high as 88.48p in one week, the European currency was up 0.4 per cent to 88.13p against the Sterling. The Euro, which was suffering in the past weeks due to Greek’s fiscal position, boosted its value after it was said that a package amounting to €30 billion was approved by finance ministers to help the country face its debts.

However, the Sterling’s reach its highest value since late February against the dollar. This has reached up to $1.5486. It is noted that because of the bad economic data relating to UK’s service sector, the Sterling was down last week.

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