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Posted May 28th, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 28th May 2010

EUR/GBP – 1.175

Its all about risk at the moment and whether you are risk adverse or you have risk appetite. Last week was definitely a week where risk aversion was to the fore and the US$ given its safe haven status in the ascendancy. The second half of this week has seen risk appetite return. The result of this was that we have seen sterling appreciate even though the economic data has been less than supportive for sterling. Yesterday we had retail sales for May released which were below expectations and the poorest for a while. Bad weather was given as the reason but you are left to wonder if there is a different underlying problem. So even though we hit 1.18 interbank yesterday there is no conviction that sterling will keep on going or suddenly go into fast reverse. Volatility continues to high, movements somewhat random and when they happen quick and large so that is why it is so important to get in touch now.

The euro benefitted from both the Chinese and the South Koreans saying that they still viewed the euro as a key constituent in their foreign currency reserves. This was good news as the markets were worried about a change in tack. To be honest what choice do they have? The US$ may be viewed as a safe haven asset but when you have so many of them the last thing you probably want is more of them. So debt problems continue to loom large in the euro zone and these problems are not going to go away for quite a while.

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Posted May 27th, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 27th May 2010EUR/GBP – 1.179 Sterling had a strong day against the euro yesterday as investors sold the single currency on concerns that Europe’s debt problems were far worse than the UK. The pound rose 1% to hit a 2 week high of 1.1808/ £1 in afternoon trading. With the  Continue Reading…

Posted May 26th, 2010 by Charles Purdy

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Posted May 25th, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 25th May 2010 EUR/GBP – 1.167 Sterling gained over 1% against the euro yesterday and fell against the US dollar. The pound hit a high of 1.1646/ £1 and fell to a daily low of $1.4353/ £1 before pulling back ground towards $1.4430/ £1. The strength against the euro was  Continue Reading…

Posted May 24th, 2010 by Charles Purdy

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Posted May 21st, 2010 by Charles Purdy

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Posted May 20th, 2010 by Charles Purdy

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Posted May 19th, 2010 by Charles Purdy

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Posted May 18th, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 18th May 2010 EUR/GBP – 1.167 The pound suffered yesterday as concerns over the UK’s escalating deficit saw sterling hit a 13 month low of $1.4250/ £1 against the US dollar and slip against the euro. With many investors shying away from highly indebted countries, many analysts expect the downward  Continue Reading…

Posted May 17th, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 17th May 2010 EUR/GBP – 1.173 Sterling has hit a 13 month low against the US dollar in early trading this morning and also fell against the euro as house price data for the UK raised concerns over the health of the domestic economy. This is a particular worry as  Continue Reading…

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