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Posted September 15th, 2008 by Charles Purdy

Weekly € rates and comments – week commencing 15th September 2008

Sterling gained some ground last week following the record low levels of the previous week. With nothing specifically positive in terms of market data for sterling, it was the uncertainty surrounding of the state of the global economy that helped finish the week on the up.

  

The euro, currently at 1.2590/£1, has been less affected by the issues of inflation, which is reported in some quarters to be well above target figures, than it has been by the sudden slow-down within the economy forcing investors to rethink short-term strategies. The rise of the euro against the dollar is perhaps the only highlight in quiet week and a bad month overall.

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