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Posted October 15th, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 15th October 2010

EURO/GBP – 1.138

Sterling rose to the highest level in 8 months against the US dollar yesterday. Sterling jumped in early Asian trading to hit $1.6065/£1 as the US dollar came under heavy selling pressure after Singapore eased the trading band on the US dollar/ Singapore dollar floating exchange rate and concerns grew over further Quantitative Easing. Sterling stayed close to a 6 month low against the euro as concerns over the UK’s own situation remained following downbeat comments from several Bank of England policy makers in recent days over the potential for more monetary easing. These comments were added to yesterday as deputy governor of the Bank of England Paul Tucker told the Daily Mail that the UK recovery had yet to find a “sure footing”. In terms of data, there was no real data released yesterday in the UK and the calendar remains quiet today. Call in now for a live exchange rate – especially to take advantage of the higher US dollar rates.

In the Euro zone, the euro followed suit in surging to an 8 month high against the US dollar, hitting $1.4123/1 on the day’s US dollar weakness. It was also helped by Wednesday’s upbeat comments from a key European Central Bank member. Axel Weber – part of the ECB governing council – was talking about exit strategy from loose monetary policy, highlighting the widening gap between US and European monetary policy. This saw medium term interest rate expectations rise for the Euro zone. Out today, there is inflation data for the region so get in touch now for a live exchange rate.

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Posted October 14th, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 14th October 2010

EURO/GBP – 1.136 Sterling hit a 5 month low against the euro on Wednesday as weak consumer confidence data and mixed employment data saw confidence in the pound drop. Sterling dropped to 1.1316/£1 but held relatively firm against the US dollar, touching back above $1.58/£1 in late trading. Consumer confidence dropped by nine points to  Continue Reading…

Posted October 13th, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 13th October 2010

EURO/GBP – 1.135 Sterling fell against both the euro and US dollar yesterday after downbeat comments from yet another member of the Bank of England’s Monetary Policy Committee saw investors lose confidence in the UK economy. In a speech in Dublin, MPC member David Miles stated that Quantitative Easing (“QE”) “remains a potentially powerful tool  Continue Reading…

Posted October 12th, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 12th October 2010

EURO/GBP – 1.148 Sterling dipped marginally lower yesterday against the US dollar as concerns over further monetary easing encouraged investors to sell sterling as it failed to hold above $1.60/£1. Both David Cameron and George Osborne gave their support for further Quantitative Easing if the Bank of England deemed it necessary, with PM Cameron stating  Continue Reading…

Posted October 11th, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 11th October 2010

EURO/GBP – 1.144 Sterling strengthened against the US dollar on Friday, coming close to the 8 month high it the previous day as US employment figures disappointed and UK producer inflation data helped investors regain confidence in the pound. Sterling also regained some ground against the euro after the strong data and also comments that  Continue Reading…

Posted October 8th, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 8th October 2010

EUR/GBP – 1.137 Sterling temporarily broke through the $1.60/£1 level against the US dollar for the first time in 2 months as the Bank of England refrained from adding any additional monetary stimulus to the economy at yesterday’s Monetary Policy Committee meeting. Sterling gave back the earlier gains as investors took profits and looked ahead  Continue Reading…

Posted October 7th, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 7th October 2010

EUR/GBP – 1.136 Sterling fell to a 4 ½ month low against a generally stronger euro yesterday as concerns over more monetary easing hurt sterling. However, as has been the case of late, gains from the single currency helped boost sterling against the US dollar and saw the pound hit a high of $1.5940/£1 –  Continue Reading…

Posted October 6th, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 6th October 2010

EUR/GBP – 1.149 Sterling recovered to hit a 2 month high against the US dollar yesterday after stronger than expected UK services sector data and expectations over further monetary stimulus in the USA. Sterling hit a high of $1.5928/£1 on the day as growth in the services sector unexpectedly jumped off of August’s 16 month  Continue Reading…

Posted October 5th, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 5th October 2010

EUR/GBP – 1.153 Sterling recovered against the euro on Monday as better than expected construction data helped investors feel more confident in the UK recovery. Construction PMI data showed that construction activity picked up in September, rising to 53.8 against an expectation of a fall to 51.6. Concerns over the ‘peripheral’ European countries also saw  Continue Reading…

Posted October 4th, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 4th October 2010

EUR/GBP – 1.151 Sterling fell to a 4 month low on Friday against euro as worries over further Quantitative Easing and poor data saw investors sell the pound. Sterling fell below 1.15/£1 and dropped to a low of 1.1423/£1 in Asian trading overnight. Against the US dollar, sterling performed well as investors looked elsewhere over  Continue Reading…

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