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Posted June 30th, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 30th June 2010

EUR/GBP – 1.230

Sterling hit a 19 month high against the euro yesterday as investors deserted the euro ahead of bank repayments to the European Central Bank. The pound hit 1.2380 as a key deadline looms on Thursday for the repayment of loans made to banks in the Euro zone. Sterling was also supported after the launch of a 30 year gilt (UK government bond) was received well by financial markets. Lending data released yesterday showed that net lending to individuals had increased to £1.5bn but final mortgage approvals fell slightly. Today, we have seen house price data show prices rise by a mediocre 0.1% month on month against an expectation of 0.3%. Despite the wave of positivity that has followed the budget, there are still several issues that need addressing in the UK, and these figures are showing that there is potential for another housing slump. Call in now to avoid missing out on the best rates.

In the Euro zone, sentiment towards the region has taken another punishment as concerns over liquidity in the Euro zone have left investors concerned. On Thursday, a 442bn lending facility from the European Central Bank expires. This has prompted overnight lending rates to increase and widening gaps between government bond spreads. We will have to see what happens over the next few days. Out today, we have seen German unemployment data for June which has shown a rise of 21,000 – worse than expected. Later on today, there is inflation data for the Euro zone. Get in touch now to ensure you do not miss out.

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Posted June 29th, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 29th June 2010 EUR/GBP – 1.231 Sterling had a strong day yesterday, climbing to a 1 ½ year high against the euro and a 7 week high against the US dollar. The pound jumped to 1.2250/ £1 and $1.5104/ £1 as the UK currency continued to benefit from last week’s  Continue Reading…

Posted June 28th, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 28th June 2010 EUR/GBP – 1.216 Sterling had a strong week last week as tough spending cuts announced in the emergency budget eased fears amongst investors that the UK would suffer a debt crisis akin to Greece or Spain. The pound hit a 19 month high of 1.22/ £1 and  Continue Reading…

Posted June 25th, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 25th June 2010 EUR/GBP – 1.210 Sterling extended gains yesterday and hit the highest level since November 2008 against the euro after renewed sovereign debt fears in Greece contrasted sharply with a new found optimism that the UK budget cuts will rein in the country’s record deficit. Following the new  Continue Reading…

Posted June 24th, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 24th June 2010 EUR/GBP – 1.218 Sterling hit a 6 week high against the US dollar of $1.4999/£1 after sentiment was given a large boost. Firstly, following the emergency budget on Tuesday, credit rating agency Moody’s stated that the UK will retain the AAA credit rating if it successfully implements  Continue Reading…

Posted June 23rd, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 23rd June 2010 EUR/GBP – 1.209 Yesterday we had the first budget from the new coalition government. The reality of the budget was very much as expected given the huge hole in the public finances and the need to match income to expenditure. And it is often stated that it  Continue Reading…

Posted June 22nd, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 22nd June 2010 EUR/GBP – 1.196 Sterling started yesterday strongly, rising to a 5 ½ week high against the US dollar of $1.4925/ £1 in early trading, but fell in late trading as traders became anxious over the effect of today’s budget. The pound strengthened after the People’s Bank of  Continue Reading…

Posted June 21st, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 21st June 2010 EUR/GBP – 1.197 Sterling has started the day strongly, rising to a 5 week high against the US dollar of $1.4925/ £1 in early trading. The pound’s strength comes off the back of strong movement in sterling’s favour on Friday, as data showed that the UK’s budget  Continue Reading…

Posted June 18th, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 18th June 2010 EUR/GBP – 1.198 Sterling pushed near 1 month highs against the US dollar yesterday as UK retail sales data came in much better than expected and risk appetite increased after a Spanish bond auction was well received. The pound rose to a high of $1.4838/£1 as retail  Continue Reading…

Posted June 17th, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 17th June 2010 EUR/GBP – 1.194 Sterling fell yesterday against the US dollar and euro as the pound failed to hold recent gains as renewed fears surfaced over Spain’s banking system that reduced risk appetite. The day started well for the pound, with UK unemployment data showing that the number  Continue Reading…

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