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 December 6th, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 6th December 2010

EURO/GBP1.1802

Sterling rose against the US dollar on Friday afternoon after poor US employment figures saw the US currency weaken across the board. There were some concerns amongst investors over the UK banking sector’s exposure to the euro zone, but this is likely to be more of a story in the New Year. Data showed that UK services activity dropped marginally as expected. Many had hoped that it would show an improvement after surprisingly strong manufacturing activity data earlier in the week. It is another relatively busy week with the Bank of England’s interest rate decision on Thursday and monthly figures for industrial, trade and producer prices. Whilst the Bank is likely to keep rates on hold, there is likely to be further division between members. Call in now to speak to a member of the team about minimising your losses.

In the euro zone, it was an incredibly volatile week for euro zone government bonds. At one point, Portuguese and Italian bond yields hit record highs relative to German bonds – a measure of the additional ‘premium’ that these countries need to pay when borrowing from the markets. However, the European Central Bank started buying bonds in large numbers in order to reduce the risk and calm the volatility. There is likely to be further volatility in the coming months as investors look for a long term solution to the debt crisis in the region, rather than the current ‘damage limitation’ that seems to be taking place at the moment. Either way, speak to one of the team in order to protect yourself from further movements.

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.

Be Sociable, Share!

Comments are closed.

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