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Posted March 29th, 2010 by Charles Purdy

Currency Rates

EURO/GBP – 1.111

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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 against the US dollar marginally as investors sold US holdings to put their funds into relatively ‘riskier’ assets. The pound has started the day above 1.11/ £1 and $1.50/ £1. There is relatively little on the economic calendar today for the UK, with the main focus on lending figures. Mortgage approvals are expected to drop slightly for February, impacted by poor weather and the removal of Stamp Duty relief in December 2009. There is expected to be an improvement in the coming months, as the Stamp Duty threshold is increased for first time buyers. Call in now for a live price and to avoid the markets moving against you.

In the Euro zone, the agreement to support Greece helped the euro come off 10 month lows against the US dollar as sentiment improved towards the single currency. The euro jumped over 1% to hit $1.3490/ £1 in early Monday trading although some analysts warned of further downward movement as although a framework has been agreed to help Greece, the problems have not yet been solved and the euro could drop further still. Out today, CPI inflation data for Germany is expected to show a rise however confidence data for the Euro zone is expected to show a drop to reflect the recent concerns over Greece. Get in touch now or a price.

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