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Posted April 30th, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 30th April 2010

EUR/GBP – 1.154

Sterling gained against the dollar and crept back against the euro as European officials stated that additional aid for Greece would be agreed soon. Sterling is trading at $1.5360/ £1 and 11.1560/£1. The prospect of an agreement on Greek aid helped stabilise market fears over debt default in the euro region. Polls soon after last night’s final prime ministerial debate saw David Cameron emerge as the ‘winner’ of the debate, but concerns remain over a hung parliament as none of the parties have a clear majority. A poll of economists showed a 60% probability of a hung parliament – much higher than a month ago. Also yesterday, a Nationwide house price survey showed prices rise by 1.0%, which was slightly higher than expected. Yet again there is no data out today in the UK, but the pound is still likely to trade on sentiment in the final few days of campaigning. Get in touch now for a live price.

In the Euro zone, talks between the European Union and the IMF continued yesterday with Greece being primed for another multi-billion dollar ‘austerity package’. Worries over Greece have been spilling over to concerns over Spain, Portugal and Ireland and this has caused investors to sell the euro against other currencies. The euro hit 1.3225/$1 as risk aversion continued to drive a flight of funds into US dollars. On a relatively positive note, German unemployment fell by 68,000 on the previous month which was much better than expected. However, this had little or no effect on the negative sentiment caused by the debt crisis. Out today, there is European unemployment data. Call in today for a price – especially if you are holding euros, as the euro looks likely to weaken.

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Posted April 29th, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 29th April 2010 EUR/GBP – 1.151 Sterling fell yesterday against the US dollar following the fallout from the Greek debt crisis that caused investors to flee to safer assets. The UK came under renewed examination in the run up to the election as analysts predicted that the crisis over government  Continue Reading…

Posted April 28th, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 28th April 2010 EUR/GBP – 1.154 Sterling fell marginally yesterday against the US dollar and euro as fresh opinion polls cast fresh doubts over a hung parliament. Some minor mortgage approval data and retail sales data came in worse than expected but the closer we get to the election, the  Continue Reading…

Posted April 27th, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 27th April 2010 EUR/GBP – 1.152 Sterling matched the highest level of the year against the euro yesterday as Greek debt uncertainty caused the euro to suffer. The pound hit 1.1620/ £1 in early trading yesterday (matching a 5 month high last seen in January) as the latest opinion polls  Continue Reading…

Posted April 26th, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 26th April 2010EUR/GBP – 1.159 Sterling had a very volatile week last week and despite the GDP figures coming in at 0.2% for the first quarter (0.2% less than expected), the pound has started the week strongly. Sterling is currently trading at $1.547/ £1 and 1.1560/ £1 – up around  Continue Reading…

Posted April 23rd, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 23rd April 2010EUR/GBP – 1.159 Sterling hit a 12 week high of 1.1583/ £1 against the euro yesterday and has briefly broken through the 1.16/ £1 this morning – buoyed by better than expected data on UK public finances and euro weakness related to the Greek debt crisis. UK public  Continue Reading…

Posted April 22nd, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 22nd April 2010 EUR/GBP – 1.151 Sterling hit a 2 month high against the euro as the number of people claiming unemployment benefits dropped sharply for the second month running. Sterling hit 1.1512/ £1 against the euro as the claimant count dropped by 32,900 – the sharpest drop since June  Continue Reading…

Posted April 21st, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 21st April 2010 EUR/GBP – 1.144 Sterling rose yesterday as inflation rose more than expected. Consumer prices rose 3.4% on the year against an expectation of 3.2% and retail prices rose by 4.4% against an expectation of 4.1%. This unexpected jump fuelled speculation that the Bank of England may look  Continue Reading…

Posted April 20th, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 20th April 2010EUR/GBP – 1.140 Sterling fell by 0.6% against the US dollar yesterday reaching a low of $1.5194/ £1 – the lowest since April 8th. The pound’s fall was further fallout from last week’s first televised election debate. The markets were yet again left reeling by the prospect of  Continue Reading…

Posted April 19th, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 19th April 2010EUR/GBP – 1.133 Sterling fell towards the end of last week following the first Prime Ministerial election debate, as the strong performance by Nick Clegg raised the prospect that neither Labour nor the Conservatives would gain an outright majority at the election. Fifty one percent of respondents in  Continue Reading…

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