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Posted December 31st, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 31st December 2010

EURO/GBP - 1.1603

Sterling lost ground as worries over the UK recovery were to the fore. The only currency that seemed to have a worse day was the US$ as concerns over their debt requirements grew.  

We are open until 3pm today so please feel free to get in touch. We then are back for business on Tuesday 4th January.
 
So we end the year with sterling having gained a bit of ground against the euro , close to where we started the year against the US$ and having lost a lot of ground against the commodity backed currencies. I expect 2011 to be very similar.
 
I wish you all the very best and have a wonderful 2011

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Posted December 30th, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 30th December 2010

EURO/GBP - 1.1717 Sterling gained a little bit of ground across the board. The US$ suffered from worries over the level of its funding requirements over the coming year as yields on US government bonds continued to increase. There are also concerns about the Euro zone funding requirements for January over what demand there will be  Continue Reading…

Posted December 29th, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 29th December 2010

EURO/GBP - 1.1707 We are in a quiet period with little news and low trading volumes as most sensible people make the most of the festive period. Sterling has lost a little bit of ground against the euro and the US$. But it is against the commodity backed currencies that the biggest change has happened with  Continue Reading…

Posted December 23rd, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 23rd December 2010

EURO/GBP - 1.1738 In our last Daily Currency Note before Christmas, sterling fell to a 3 month low against the US dollar after a downward revision to the UK’s growth figures for the 3rd Quarter reminded investors how fragile the road ahead is for the UK economy. Figures showed that against an initial estimate of 0.8%,  Continue Reading…

Posted December 22nd, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 22nd December 2010

EURO/GBP - 1.1771 Sterling hit a 3 month low against the US dollar yesterday as public borrowing figures came in far worse than expected and called into question whether the government can meet its deficit cutting target. Net borrowing by the government was at a record £22.8bn for November – up on last year’s £16.7bn and  Continue Reading…

Posted December 21st, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 21st December 2010

EURO/GBP - 1.1814 Sterling gained against the euro yesterday as the single currency was hampered by euro zone debt crisis worries, but sterling’s gains were limited to 0.3% as concerns over the UK’s exposure to the crisis held the pound back. Overall price movement was limited as many investors stick to the sidelines until the first  Continue Reading…

Posted December 20th, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 20th December 2010

EURO/GBP - 1.1821 Sterling hit a 3 month low against the US dollar on Friday after Lloyds Banking Group warned that it was making further provisions for losses on Irish debt that it is exposed to. This exacerbated concerns over the UK’s exposure to Ireland’s debt crisis and saw investors selling sterling. UK consumer confidence figures  Continue Reading…

Posted December 17th, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 17th December 2010

EURO/GBP - 1.1749 Sterling climbed against the US dollar and euro yesterday after UK retail sales data for October was revised upwards and inflation expectations continued to rise. November retail figures came in slightly lower than was expected, but consumer inflation expectations showed that many expect nearly 4% inflation in the coming months. Having dropped by  Continue Reading…

Posted December 16th, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 16th December 2010

EURO/GBP - 1.1756 Sterling fell to a 12 day low against the US dollar yesterday after UK jobs data came in much weaker than expected. Many felt that this drop points towards a shaky recovery in the coming months, and with uncertainty over the impact of a 2.5% VAT hike and austerity measures, many investors pulled  Continue Reading…

Posted December 15th, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 15th December 2010

EURO/GBP - 1.1806  Sterling dropped from 3 week highs against the US dollar yesterday after strong US figures helped boost the US dollar. UK inflation came in at 3.3% – the highest for 6 months – and the 11th consecutive month that it has been more than 1% higher than the Bank of England’s 2% target  Continue Reading…

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