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Posted April 19th, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 19th April 2010

EUR/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 a YouGov poll felt that the Liberal Democrat leader had come out on top leading to fresh concerns that a hung parliament would hamper efforts to put in place a cogent plan to clear the deficit. It is a busy week for economic data, with inflation data out on Tuesday, the Bank of England minutes and jobless claims data out on Wednesday, retail sales on Thursday and the first estimate of first quarter gross domestic product out on Friday. The trade deficit and industrial output has come in better than expected recently, so a positive GDP figure is expected. Despite this, there is a lot of potential for volatility this week so get in touch now for a price.

In the Euro zone, the euro fell against most currencies last week in the wake of the Greek bailout package as investors began to recognise that the Greek economy is in a very dire state. So far today, the single currency has fallen against the US dollar as risk aversion boosts demand for the relative safe-haven of the US dollar and even after Goldman Sachs were indicted for fraud by US regulators. There is very little data out today in the Euro zone. Call in now for a price to ensure that the market doesn’t move against you.

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