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Posted August 31st, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 31st August 2010

EUR/GBP – 1.216

Sterling’s movement last week was dictated by risk sentiment as sterling suffered on increased risk aversion at the start of the week but benefitted towards the end of the week due to gains in global stock markets. UK quarterly growth was revised upwards which is encouraging due to the fiscal consolidation which will take place. However a closer look at the figures revealed this revision was largely down to an 8.5% increase in construction output which will be very difficult to sustain for the remainder of 2010. This has seen many analysts argue that growth is very likely to slow later in the year. This week is a fairy quiet week for data in the UK. Call in now to speak to a trader about your risk management strategies.

The euro has been little changed overnight against sterling and the US dollar. German unemployment figures will headline the European economic calendar today, with expectations calling for jobless claims to fall 20,000. The unemployment rate is expected to remain unchanged at 7.6%. This is a further sign that the euro is being supported by the good performance of Germany whose export economy is benefitting from the Euros weakness against the US$. Call in now for a live exchange rate.

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Posted August 27th, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 27th August 2010 EUR/GBP – 1.219 Sterling benefitted from improved risk sentiment as gains in stock markets gave investors the confidence to seek higher returns elsewhere. Sterling reached $1.5545/£1 against the US dollar as the FTSE 100 gained 1% through the day. Today sees the release of GDP data in  Continue Reading…

Posted August 26th, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 26th August 2010 EUR/GBP – 1.223Sterling had a fairly quiet day yesterday and remains range bound against the euro and US dollar. With trading volumes still low due to the holiday season any negative surprises could hit confidence in sterling and lead to larger movements than normal. Today sees the  Continue Reading…

Posted August 25th, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 25th August 2010 EUR/GBP – 1.214 Yesterday sterling fell to a one month low against the US dollar and ended four days of gains against the euro over fears of a double-dip recession. Martin Weale, a Bank of England Official stated in the Times, “The UK faced a significant risk  Continue Reading…

Posted August 24th, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 24th August 2010 EUR/GBP – 1.219 Sterling hit a 2 month high against the euro yesterday reaching 1.2279/£1. This was short lived and this morning we have seen sterling lose ground against both the euro and the US$. Trading volumes in August are traditionally low which means that we can  Continue Reading…

Posted August 23rd, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 23rd August 2010 EUR/GBP – 1.225 Last week was a strong one for sterling against the euro and this trend has continued this morning as it is trading at 1.2260/£1. During this past week, the Bank of England minutes for the month of August showed that the decision to keep  Continue Reading…

Posted August 20th, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 20th August 2010 EUR/GBP – 1.217 Sterling recovered yesterday to jump more than a cent yesterday against the US dollar after far stronger than expected retail sales data boosted hopes that the UK economy can maintain positive momentum in the 3rd quarter. There was an expectation that sales would fall  Continue Reading…

Posted August 19th, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 19th August 2010 EUR/GBP – 1.213 Sterling recovered from 3 week lows against the US dollar after the Bank of England’s minutes from their most recent monetary policy meeting eased market speculation that the Bank would loosen monetary policy further. Sterling rose to hit a daily high of $1.5689/£1 after  Continue Reading…

Posted August 18th, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 18th August 2010 EUR/GBP – 1.209 Sterling fell yesterday against the US dollar and euro yesterday after inflation data showed a slow down in UK price growth. Sterling hit a high of $1.57/£1 in early trading yesterday before a US bank sold a large amount of sterling, and in thin  Continue Reading…

Posted August 17th, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 17th August 2010 EUR/GBP – 1.216 Sterling reclaimed some of the ground lost against the US dollar last week, rising 0.4% yesterday to hit $1.5665/£1 after risk sentiment improved in trading yesterday. Against the euro, sterling slipped after house price data showed that the housing market had faltered in the  Continue Reading…

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