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Posted July 30th, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 30th July 2010

EUR/GBP – 1.198

Sterling hit a further 5 month high of $1.5660/£1 yesterday on speculation over month end ‘rebalancing’ after strong performances on the US stock market. Strong earnings from many US firms over the last week has left many analysts expecting investors to sell their US dollar share holdings, putting pressure on the US dollar. Sterling also broke through a key technical barrier on the graph this week, breaking through the 200 day ‘moving average’, which is a strong positive signal for sterling. In terms of data, house prices and lending data in the UK disappointed, which serves as a reminder that the UK is not quite out of the woods yet. There is little or no data out today for the UK – call in now for a live exchange rate.

In the Euro zone, German unemployment data came in better than expected, as the level of unemployment dropped by 20,000 – 2,000 more than expected. The euro maintained its relative strength against the pound, keeping sterling from breaking above the 1.20/ £1 barrier. In terms of data, there is German retail sales data and European inflation data alongside Italian unemployment figures. The Euro has had a relatively good week, but many are confused as to why the euro has performed so well, given the issues with sovereign debt in the region. Call in now for a live exchange rate.

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Posted July 29th, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 29th July 2010 EUR/GBP – 1.198 Sterling breached the $1.56/ £1 barrier as investors ignored downbeat comments from the Bank of England Monetary Policy Committee after a run of better than expected UK data. The pound continued to ride the wave of strong GDP and better than expected retail sales  Continue Reading…

Posted July 28th, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 28th July 2010 EUR/GBP – 1.197 Sterling continued to strengthen to a 5 month high against the US dollar after better than expected retail sales data boosted the pound further off the back of last week’s strong GDP data. Sterling hit a high of $1.5570/£1 as better than expected bank  Continue Reading…

Posted July 27th, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 27th July 2010 EUR/GBP – 1.190 Sterling hit a 5 month high against the US dollar in early trading this morning, tentatively reaching $1.5530/£1 in early trading as investors looked to target ‘riskier’ trades. Following Friday’s generally benign stress test results for European banks, stock markets rose globally yesterday as  Continue Reading…

Posted July 26th, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 26th July 2010 EUR/GBP – 1.196 Sterling jumped sharply on Friday after stronger than expected economic data saw demand surge for the pound. Sterling jumped by more than 1% against the euro and US dollar after the 1st estimate of 2nd Quarter GDP growth for the UK almost doubled analyst  Continue Reading…

Posted July 22nd, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 22nd July 2010 EUR/GBP – 1.187 Sterling fell yesterday after the minutes from the Bank of England’s latest policy meeting on interest rates showed a dampened outlook for growth. As a whole, there was a lack of confidence from the policy makers as further quantitative easing (injection of money into  Continue Reading…

Posted July 21st, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 21st July 2010 EUR/GBP – 1.188 Sterling recovered from Monday’s losses yesterday as concerns over European bank stress tests saw investors taking profit from the stronger euro. Despite starting the day poorly after data on UK public finances came in worse than expected, the pound recovered against the euro and  Continue Reading…

Posted July 20th, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 20th July 2010 EUR/GBP – 1.177 Sterling fell yesterday against the euro to hit a 7 week low against the euro as higher demand for the single currency saw investors cut short positions in the currency – particularly against the pound. Sterling hit a low of 1.1724/ £1, as a  Continue Reading…

Posted July 19th, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 19th July 2010 EUR/GBP – 1.181 Sterling fell on Friday, hitting the lowest level against the euro since June 1st as strong European stock markets helped drive demand for the single currency. Strong corporate earnings from the USA have also helped drive demand for higher risk currencies. Given the concerns  Continue Reading…

Posted July 16th, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 16th July 2010 EUR/GBP – 1.192 Sterling continued its rally against the US dollar yesterday, hitting a 2½ month high of $1.5393 as risk appetite helped drive demand for the pound. Data in the UK was fairly thin on the ground and the movement was driven by strong data out  Continue Reading…

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