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Posted August 28th, 2007 by Charles Purdy

Weekly Euro Rates and Comments – Week Commencing 27th August 2007

Sterling had a better week. The markets have regained some equilibrium following the Feds move to reduce their lending rate to financial institutions. Also the ECB and the Fed continue to make available liquidity as and when required and in whatever size required. Any economic data released recently seems to have ignored. However, sterling will continue to be under pressure while the liquidity crisis continues and safe haven such as US treasury bills are preferred.

 

No real change for the Euro. Less than a month ago the Euro pushed up towards €1.50/£1. Then it pulled back close to €1.465/£1. It now stands at €1.470/£1 inter bank. The ECB had made it clear that interest rates would be increased next month by 0.25%. However given the volatility in the market place and the need for the ECB to supply liquidity, the market is beginning to wonder if the expected increase in Euro interest rates will happen in the short term. However, we have to remember economically that Euro land continues to leave the UK in its wake. So if you see any respite for sterling against the Euro then it may make senses to look at it as a short term buying opportunity.

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Posted August 18th, 2007 by Charles Purdy

Weekly Euro rates and comments – Week commencing 20th August 2007

  Sterling continues to be under pressure. The liquidity crisis is having far reaching consequences. The flight to safety has focused on the Yen, the Swiss franc and the US$ in the form of treasury bonds. UK news focussed on the Consumer Price Inflation figure for July of 1.9% being for the first time in  Continue Reading…

Posted August 12th, 2007 by Charles Purdy

Weekly Euro Rates and Comments – Week Commencing 13th August 2007

Sterling had a strange start to last week losing a cent and half against the Euro very first thing Monday morning. The explanations as to why the sudden movement happened have been somewhat limited especially given the lack of sterling negative news over the weekend. At the same time, there was a rapid decline in  Continue Reading…

Posted August 6th, 2007 by Charles Purdy

Weekly Euro Rates and Comments – 6th August 2007

  The Bank of England held UK interest rates at last weeks meeting. This was no surprise given the BOE increased rates at the previous meeting, the significant volatility in the equity markets and the major floods in certain parts of the UK in the last month or so. Sterling is still holding its own  Continue Reading…

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