Call Free Phone Now:0808 163 0102
Outside the UK: +(44) 207 898 0541 Request a Call Back
 
  Daily Currency News Euro US Dollar Educational Articles  
 
Posted October 29th, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 29th October 2010

EURO/GBP – 1.147

Sterling had a poor start to the week on concerns over further Quantitative Easing that were hanging over the pound following last week’s relatively negative Bank of England minutes. This saw sterling hit a 7 month low of 1.1184/£1 against the euro on Monday. However, Tuesday’s GDP figures of 0.8% beat expectations and the UK credit rating outlook upgraded to “stable” from “negative” following spending review. Sterling hit highs of 1.1486/£1 and $1.5970/£1 on Thursday as a result of more positive sentiment towards the UK. This came despite figures showing that house prices fell by more than expected in the previous month and disappointing retail sales figures. Overall though, it was a good week for sterling as fears over further Quantitative Easing subsided. Call in now to speak to one of the traders about taking advantage of better exchange rates. 

In the Euro zone, the euro started the week strongly as a key member of the ECB stated that the central bank would look to raise interest rates sooner than the USA or UK. However, sterling jumped by nearly 3 cents against the euro following the surprisingly positive UK GDP on Tuesday. The euro also suffered after stronger than expected US data saw the euro drop below $1.40/1 and with many investors waiting to see how much additional funding the US Federal Reserve pumps into the economy next week, the euro was held back against the US currency. European data was mostly as expected but French consumer spending jumped by 3% and industrial orders improved by an unexpected 5.3%. As ever, ensure you speak to one of the team sooner rather than later to ensure you are protected.

Exchange rates change every second – call Smart Currency Exchange for a live up-to-the-minute quote. For individual requirements, visit the SmartCurrencyExchange.com website and for companies visit the SmartCurrencyBusiness.com website.

 

Leave a Reply

Posted October 28th, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 28th October 2010

EURO/GBP – 1.140 Sterling slipped back against the US dollar on Wednesday after investors pulled out of bets against the US currency on uncertainty over the level of additional Quantitative Easing being added to the US economy by the Federal Reserve. However, sterling held firm above the 1.14/£1 hitting a high of 1.1475/£1 on the  Continue Reading…

Posted October 27th, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 27th October 2010

EURO/GBP – 1.146 Sterling jumped against the euro and US dollar yesterday after surprisingly positive UK GDP data for the 3rd Quarter and a welcome vote of confidence for the UK from credit rating agency S & P. GDP growth came in at 0.8% for the 3rd Quarter against an expectation of 0.4%, boosted by  Continue Reading…

Posted October 26th, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 26th October 2010

EURO/GBP – 1.130 Sterling fell to a 7 month low against the euro yesterday after being weighed down by the prospect that the UK economy might be in store for further Quantitative Easing by the Bank of England and mortgage approval figures disappointed. Sterling hit a low of 1.1184/£1 as financial markets begin to price  Continue Reading…

Posted October 25th, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 25th October 2010

EURO/GBP – 1.120 Sterling fell to a 7 month low against the euro on Friday after sterling stayed on the back foot after Bank of England minutes earlier in the week suggested that the UK economy might be in store for further Quantitative Easing. In early trading today, sterling has dropped even further against the  Continue Reading…

Posted October 22nd, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 22nd October 2010

EURO/GBP – 1.128   Sterling fell to a 6 ½ month low against the euro yesterday after poor UK retail sales data left investors concerned that the Bank of England would look to inject further stimulus to restart the ailing recovery. Data released showed that retail sales dropped for the second month in a row  Continue Reading…

Posted October 21st, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 21st October 2010

EURO/GBP – 1.129 Sterling gained against the US dollar yesterday as George Osborne outlined plans for UK spending cuts but it fell against the euro as the Bank of England minutes showed one member voting for further Quantitative Easing. With plans for job losses, cuts to the welfare state and an increase in the retirement  Continue Reading…

Posted October 20th, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 20th October 2010

EURO/GBP – 1.140 Sterling slipped across the board yesterday as weak UK factory orders caused concerns amongst investors ahead of today’s government spending review. Figures from the Confederation of British industry dropped even further than in September which raises doubts over the robustness of the manufacturing sector. With investors very sensitive to any perceived problems  Continue Reading…

Posted October 19th, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 19th October 2010

EURO/GBP – 1.138 Sterling fell against the US dollar yesterday, coming off 8 ½ month highs as investors became concerned that the widely anticipated 2nd round of Quantitative Easing in the USA (known as “QE2”) would not be as aggressive as first thought. This saw investors reversing so called ‘short positions’ (i.e. bets against the  Continue Reading…

Posted October 18th, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 18th October 2010

EURO/GBP – 1.144 Sterling rose to the highest level against the US dollar since the end of January on Friday after Fed Chairman Ben Bernanke said that low inflation gave a case for more intervention by the Federal Reserve. Sterling hit a high of $1.6108/£1 – the highest since Jan 29th, but further gains were  Continue Reading…

© Copyright 2010 Smart Currency Exchange. All Rights Reserved.
Site by Iniquus