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Posted March 31st, 2010 by Charles Purdy

Currency Rates

EURO/GBP – 1.123

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 strengthened yesterday after strong economic data saw demand for the pound surge. Sterling jumped over 1% against the euro to 1.1255/ £1 and hit a 1 ½ week high of $1.5125/ £1 against US dollar. The movement was spurred by the final 4th Quarter UK GDP figure which was revised upwards from 0.3% to 0.4%. In addition, the latest house prices survey showed that prices rose 0.7% month on month – more than the 0.2% rise that was initially expected. Data for the current account was also better than forecast, with the figures showing a deficit of £1.7bn as opposed to £4.6bn which was expected. This figure shows that whilst the UK is still a net importer, the weaker pound has encouraged exports as UK goods become relatively cheaper for foreign buyers. To put this into perspective, this deficit was at £11.4bn in September 2009, so it is clear the effect that the weak pound has had. Whilst the figures include reduced demand for overseas goods/ services, the data bodes well for the UK economy. In addition, another opinion poll suggested that the Conservatives had extended their lead heading into the election, helping to ease fears of a hung parliament. There is very little data out for the UK today – get in touch now to take advantage of relatively stronger prices.

In the Euro zone, the euro initially strengthened against the US dollar as German import prices showed a rise. However, despite last week’s bailout, the single currency fell against both sterling and US dollar as bond markets took a negative stance and chose to focus on the fragile fiscal situation in the region. The yield on Greek bonds (higher yield = more negative outlook for the economy) jumped by 0.3%. This compounded the euro’s drop against sterling following the UK GDP figures. Today we have unemployment data for the region. Get in touch now to avoid volatility from impacting your payments.

Many clients have been enquiring about our opening hours over Easter. They are as follows:

Thursday 1st April: Open 08:00 – 18:00
Friday 2nd – Monday 5th April: Closed
Tuesday 6th April: Open 08:00 – 18:00

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 March 30th, 2010 by Charles Purdy

Currency Rates EURO/GBP – 1.115 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 rose slightly versus the US dollar on weaker demand for dollars as investors returned to riskier assets following the agreement last week to bail out Greece. UK Consumer credit was also relatively  Continue Reading…

Posted March 29th, 2010 by Charles Purdy

Currency Rates EURO/GBP – 1.111 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 finished the week broadly lower against the euro as a European Union agreement to help Greece strengthened the single currency on Friday. Following several weeks of uncertainty over the crisis, sterling strengthened  Continue Reading…

Posted March 26th, 2010 by Charles Purdy

Currency Rates EURO/GBP – 1.110 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 hit a 1 month high against the euro yesterday morning as UK retail sales data for February jumped 2.1% on the month, considerably more than the 0.7% that was forecast. As a  Continue Reading…

Posted March 25th, 2010 by Charles Purdy

Currency RatesEURO/GBP – 1.119 To request a up-to-the minute quotation, call 0808 163 0102 or fill out our quote form: http://www.smartcurrencyexchange.com/quote.aspxSterling had a very volatile day yesterday, hitting 1.1220/ £1 in early trading before dropping back towards 1.1150/ £1. Against the US dollar, sterling dropped from above $1.50/ £1 to hit a 2 week low  Continue Reading…

Posted March 24th, 2010 by Charles Purdy

Currency Rates EURO/GBP – 1.119 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 yesterday after data yesterday morning showed that the rate of consumer price inflation fell. This reinforced expectations that inflation may have peaked for the time being and as a result the  Continue Reading…

Posted March 23rd, 2010 by Charles Purdy

Currency RatesEURO/GBP – 1.111 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 started poorly yesterday against the euro and US dollar, but recovered ground as the euro lost out as concerns over Greece took centre stage. The pound was up 0.4% against the US dollar  Continue Reading…

Posted March 22nd, 2010 by Charles Purdy

Currency Rates EURO/GBP – 1.107 To request a up-to-the minute quotation, call 0808 163 0102 or fill out our quote form: http://www.smartcurrencyexchange.com/quote.aspx Despite recovering against the US Dollar and euro throughout most of last week, sterling fell considerably this morning against the US dollar following concerns over the political and economic outlook for the UK  Continue Reading…

Posted March 19th, 2010 by Charles Purdy

Currency Rates EURO/GBP – 1.114 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 rose to a 3 week high against the euro breaching the 1.12/ £1 mark for the first time since the 26th February. Sterling fell marginally against the US dollar following Wednesday’s gains,  Continue Reading…

Posted March 18th, 2010 by Charles Purdy

Currency Rates EURO/GBP – 1.116 To request a up-to-the minute quotation, call 0808 163 0102 or fill out our quote form: http://www.smartcurrencyexchange.com/quote.aspx Yesterday sterling rose to a 3 week high against the US dollar and euro as stronger than expected labour data and better than expected comments from the Bank of England reversed negative sentiment  Continue Reading…

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