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Posted November 15th, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 15th November 2010

EURO/GBP – 1.177

Sterling slipped against the euro on Friday as the single currency recovered ground as European leaders sought to reassure investors in ‘peripheral’ Euro zone debt that they would not face a debt writedown. There were also concerns over the UK’s involvement in Irish debt as it became clear that UK banks have nearly $147bn worth of exposure to the country’s decreasingly popular bonds. Despite this, sterling closed up nearly 2% against the euro on the week and remained above the $1.60/£1 as the week saw concerns over further Quantitative Easing in the UK fade. It is a quiet day for data in the UK with most traders likely to be looking ahead to Wednesday’s minutes of the Bank of England Monetary Policy Committee two weeks ago. Call in now for a live exchange rate to ensure you don’t miss out.

In the Euro zone, the Irish government denied yesterday that the country is insolvent despite the Ministry of Finance admitting to “ongoing contacts” with international officials “in light of current market conditions”. This marked a clear change in tone to recent statements which dismissed reports that the country was discussing a bailout package. There is pressure for Ireland to announce that it will seek a bailout ahead of a meeting of Eurozone members tomorrow, in which they are due to discuss the European Financial Stability Facility – the fund set up after Greece’s bailout over the summer. Data is limited today, so call in now for a live exchange rate.

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Posted November 12th, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 12th November 2010

EURO/GBP – 1.179 Sterling hit a 7 week high against the euro on Thursday as the single currency suffered on concerns over periphery debt in the region. This saw sterling extend the gains made after Wednesday’s Bank of England Inflation report to hit a high of 1.1822/£1. The report estimated that inflation will remain high  Continue Reading…

Posted November 11th, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 11th November 2010

EURO/GBP – 1.172 Sterling hit the highest level against the euro since late September as speculation over near term Quantitative Easing eased following the Bank of England’s inflation report. Sterling hit a high of 1.1723/£1 as the report showed that inflation would remain above target next year, as higher VAT and projected higher import costs  Continue Reading…

Posted November 10th, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 10th November 2010

EURO/GBP – 1.159 Sterling rose to a 6 week high against the euro yesterday after concerns over debt in the Euro zone caused investors to sell the single currency, but sterling’s gains were limited ahead of today’s Bank of England inflation report and BOE Governor Mervyn King’s post report press conference. Manufacturing production came in  Continue Reading…

Posted November 9th, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 9th November 2010

EURO/GBP – 1.161 Sterling rose to a 5 month high against the euro yesterday as concerns over Irish debt dented the single currency and investors began to question the effect of debt in the Euro zone region. With data fairly thin on the ground yesterday in the UK, many are looking ahead to Wednesday’s Bank  Continue Reading…

Posted November 8th, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 8th November 2010

EURO/GBP – 1.157 Sterling strengthened to a 9 month high against the US dollar last week helped by the Bank of England’s decision to keep interest rates and UK Quantitative Easing on hold and helped by a run of better than expected data. The pound jumped to $1.6297/£1 and gained back lost ground against the  Continue Reading…

Posted November 5th, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 5th November 2010

EURO/GBP – 1.139 Sterling strengthened to a 9 month high against the US dollar yesterday helped by the Bank of England’s decision to keep interest rates and UK Quantitative Easing on hold. The pound jumped to $1.6297/£1 and gained back lost ground against the euro hitting a high of 1.1448/£1. The Bank’s decision not to  Continue Reading…

Posted November 4th, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 4th November 2010

EURO/GBP – 1.141 Sterling hit a 9 month high against the US dollar yesterday after stronger than expected services sector data reduced the prospects for further Quantitative Easing ahead of today’s Bank of England Monetary Policy Committee meeting. Sterling hit the 9 month highs throughout the day, and spiked by nearly 1 cent to hit  Continue Reading…

Posted November 3rd, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 3rd November 2010

EURO/GBP – 1.148 Sterling fell yesterday across the board as construction sector data came in weaker than expected. Sterling hit a low of €1.1407/£1 in late trading and fell below $1.60/£1 against the US dollar on the news, but had recovered back above that level by the end of the day. Construction PMI showed that  Continue Reading…

Posted November 2nd, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 2nd November 2010

EURO/GBP – 1.152 Sterling strengthened yesterday, hitting a high of 1.1544/£1 against the euro and $1.6090/£1 against the US dollar on better than expected economic data. Less than a week after UK 3rd Quarter GDP doubled estimates, PMI manufacturing data – a key measure of future orders in the sector – showed an unexpected jump  Continue Reading…

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