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Posted February 26th, 2010 by Charles Purdy

Currency Rates

EURO/GBP – 1.126

To request a up-to-the minute quotation, call 0808 163 0102 or fill out our quote form: http://www.smartcurrencyexchange.com/quote.aspx

Sterling had a poor day yesterday on weak data and growing concerns that the Bank of England could expand Quantitative Easing further. In addition, poor US unemployment data caused investors to move to the safe haven dollar on risk aversion. The pound dropped to a 9 month low against the US dollar and a 6 week low against the euro. Weaker than expected data showed a 5.8% drop in business investment in the 4th Quarter and added to the negative sentiment created this week by key members of the Bank of England who alluded to pumping more money into the economy. This dented hopes of an upgrade to the UK’s updated 4th Quarter GDP figures which are released this morning. There has been talk of an upgrade from 0.1% to 0.2% growth, however following yesterday’s poor data there is as much of a possibility that this figure will show that the economy shrank. There is growing concern that the UK’s recovery is faltering. A survey of house prices this morning showed that prices dropped by 1% from last month. This week has seen concerns grow over the state of the UK’s recovery and sterling has dropped considerably. There is a high risk of volatility today which could see the price of sterling move either way. Get in touch now to avoid losing out.

In the Euro zone, German unemployment data came in better than expected and the Euro zone business confidence reading increased to the highest level since October 2008. However, with concerns still growing over Greece, the data had little effect. The main market mover was US unemployment data which came in a lot worse than expected and caused the euro to drop against the US dollar as investors traded on risk aversion. European inflation data is released today, which is expected to show that prices in the region rose by 1% in the year to January. This is good for the region, but investors seem to agree that there is little chance of a rise in interest rates for some time. With a lot of data out today the euro could go either way. Call in now to ensure you buy at the right time.

Call 0808 163 0102 or +44 (0) 207 898 0541 from outside the UKor fill out our quote form: http://www.smartcurrencyexchange.com/quote.aspx

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Posted February 25th, 2010 by Charles Purdy

Currency Rates EURO/GBP – 1.134 To request a up-to-the minute quotation, call 0808 163 0102 or fill out our quote form: http://www.smartcurrencyexchange.com/quote.aspx Sterling fell against euro yesterday as Bank of England Monetary Policy Committee member Adam Posen left the door open for further injections of emergency funding into the UK economy – despite putting the  Continue Reading…

Posted February 24th, 2010 by Charles Purdy

Currency RatesEURO/GBP – 1.139 To request a up-to-the minute quotation, call 0808 163 0102 or fill out our quote form: http://www.smartcurrencyexchange.com/quote.aspx Sterling experienced a rollercoaster ride yesterday, as it moved sharply down and then recovered ground later in the day against the euro and US dollar. The initial drop yesterday morning was as a result  Continue Reading…

Posted February 23rd, 2010 by Charles Purdy

EURO/GBP – 1.131 To request a up-to-the minute quotation, call 0808 163 0102 or fill out our quote form: http://www.smartcurrencyexchange.com/quote.aspxSterling remained close to a 9 month low against the US dollar and improved slightly against the euro yesterday as concerns mounted over the level of UK debt and the weak economy. With little fundamental data  Continue Reading…

Posted February 22nd, 2010 by Charles Purdy

EURO/GBP – 1.137 To request a up-to-the minute quotation, call 0808 163 0102 or fill out our quote form: http://www.smartcurrencyexchange.com/quote.aspxA series of weak UK data last week saw sterling fall to a 10 month low against the US dollar. Worse than expected unemployment data and the shock announcement of the first Public Sector deficit since  Continue Reading…

Posted February 19th, 2010 by Charles Purdy

EURO/GBP – 1.140 To request a up-to-the minute quotation, call 0808 163 0102 or fill out our quote form: http://www.smartcurrencyexchange.com/quote.aspxSterling suffered yesterday after the UK’s public finances showed a shortfall in the month of January for the first time since 1993. The pound fell to $1.5554/ £1 – barely avoiding the $1.5533/ £1 nine month  Continue Reading…

Posted February 19th, 2010 by Charles Purdy

Currency RatesEURO/GBP – 1.140US$/GBP – 1.540CHF/GBP – 1.672CAN$/GBP – 1.616AUS$/GBP – 1.726 To request a up-to-the minute quotation, call 0808 163 0102 or fill out our quote form: http://www.smartcurrencyexchange.com/quote.aspxSterling suffered yesterday after the UK’s public finances showed a shortfall in the month of January for the first time since 1993. The pound fell to $1.5554/  Continue Reading…

Posted February 18th, 2010 by Charles Purdy

Currency Rates EURO/GBP – 1.148 Sterling slid yesterday as closer inspection of the minutes from the Bank of England’s interest rate decision meeting revealed – despite a ‘unanimous decision’ – that for some members the arguments were ‘very finely balanced’. In addition, UK unemployment claims unexpectedly jumped by 23,500 in January which also weighed on  Continue Reading…

Posted February 17th, 2010 by Charles Purdy

Currency Rates: EURO/GBP – 1.147 Yesterday saw CPI inflation data released for the UK. The figure showed the annual rate increase to 3.5% in January from 2.9% in December – the biggest monthly rise in inflation since November 2008 prompting Mervyn King to write an explanatory letter to the Chancellor. In this letter, the Governor  Continue Reading…

Posted February 16th, 2010 by Charles Purdy

Currency Rate: EURO/GBP – 1.148 In the spirit of Shrove Tuesday, sterling’s performance yesterday was as flat as a pancake against the euro. A lack of economic data, reduced trading volumes due to the US President’s Day holiday and the fact that many traders are holding off for data out later today meant that sterling  Continue Reading…

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