EURO/GBP - 1.2491

Sterling suffered a setback as the Bank of England cut its growth forecasts and noted that events in the Euro zone increased risk of the UK economic recovery faltering. Not a surprise given events in the southern states of the euro zone and our dependency on the Euro zone as a trading partner. A bit like Canada being very dependent on the US economy. This has raised the spectre of further quantitative easing in the UK which is negative for sterling. One piece of good news was that unemployment had fallen. Call in now to find out the latest news and rates in these highly volatile times.

The euro is still under pressure. Although it gained ground against sterling it continued to lose ground against the US$ dipping below US$1.27/€1 at one stage. The problems in Greece continue with another general election having to be called. It also appears that the European Central Bank is limiting the funds being made available to certain Greek banks from The European Stability Fund which is increasing tension. So not a pretty picture and the debt crisis could well become a currency crisis. Call in now for the latest rates.

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EURO/GBP – 1.2570 Sterling had a mixed day today weakening off against the majority of currencies in the morning before strengthening against most in the afternoon. Data out yesterday revealed that the UK posted a slightly larger trade deficit than anticipated. The Bank of England inflation report will be the main focus today as investors  Continue Reading…

EURO/GBP – 1.2526 Sterling broke through more resistance yesterday hitting 1.2550 against the euro and strengthened against the majority of other currencies. Trade balance data is the main release on the agenda as the world looks to Europe and the US for influence. Call in now for the latest news and a live quote. The  Continue Reading…

EURO/GBP – 1.2465 Sterling briefly broke through the 1.2500 level against the euro on Friday morning; before weakening off against the majority of currencies as Nationwide consumer confidence figures released were worse than expected and the change in the price of goods and raw materials purchased by manufacturers dropped by a lot more than anticipated.  Continue Reading…

EURO/GBP – 1.2472 Sterling hit new highs of 1.2495 against the euro this week, challenging the psychological ceiling of 1.25 as fears surrounding the Eurozone dominated the global markets. The main data released out of the UK this week was the Bank of England’s decision to keep interest rates and the asset purchase facility unchanged.  Continue Reading…

EURO/GBP – 1.2457 Sterling hit fresh highs of 1.2460 against the euro today as fears that Greece could soon leave the euro gripped the market. On the data front, the British Retail Consortium retail sales monitor dropped to -3.3% which kept sterling fairly range bound against the majority of currencies. The Bank of England’s rate  Continue Reading…

EURO/GBP – 1.2424 Sterling strengthened to fresh highs against the commodity backed currencies as risk aversion drove the market; whilst staying moderately range bound against the euro and weakening off against the US dollar. On the data front, housing price balance data was weaker than expected dropping to a six month low. With very little  Continue Reading…

EURO/GBP – 1.2412 Sterling reached a 3 and a half year high against the euro yesterday of 1.2440 as election results in Europe caused yet more uncertainty in the region with the markets shut in the UK. On the data front on Friday, the Halifax House Price Index (HPI) came in much worse than expected.  Continue Reading…

EURO/GBP – 1.2307  Sterling had a fairly strong week hitting fresh 22 month highs against the euro, 4 month highs against the New Zealand dollar and a 5 month high against the Australian dollar; but, weakened off against the US dollar as risk aversion drove the market. Mixed data released in the UK showed weaker  Continue Reading…

EURO/GBP – 1.2307 Sterling continues to be flavour of the month benefiting from figures that showed the UK construction industry expanded in April and from poor economic data elsewhere. The growth in the construction figures was not as great as for March but was still an important set of data as the construction sector was  Continue Reading…