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Posted February 15th, 2011 by Charles Purdy

EUR/GBP Rate & Comments for 14th February 2011

EURO/GBP - 1.1857

Sterling fell against a stronger US dollar on Friday after investors sold sterling on a lack of clarity about interest rates from the Bank of England. Sterling had been on a strong run on speculation that stubbornly high interest rates would see an interest rate hike in the early summer. However, with the Bank keeping interest rates on hold on Thursday (despite talk from key policy makers about raising interest rates to deal with inflation) investors were left confused and sold sterling on the lack of clarity. This week should see a little more clarity with the latest inflation figures and the Bank of England’s inflation report. Call in now to speak to one of the team for a live exchange rate.

In the euro zone, the euro slipped against the US dollar despite briefly posting gains on the news that Egyptian President Mubarak had resigned. This helped boost sentiment towards the riskier euro as stability returns to the country. However, the euro struggled to break over $1.35/€1 and as such is set to struggle this week. In terms of data, the key event is GDP data that is released on Tuesday. We could see some volatility, so call in to ensure you are protected.

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Posted February 11th, 2011 by Charles Purdy

EUR/GBP Rate & Comments for 11th February 2011

EURO/GBP - 1.1853 The Bank of England kept interest rates on hold yesterday at 0.5% and kept the Quantitative Easing programme on hold at £200bn. This initially saw sterling drop against the US dollar, but later recover on the expectation that the Bank would look to hike interest rates as early as May to deal with  Continue Reading…

Posted February 10th, 2011 by Charles Purdy

EUR/GBP Rate & Comments for 10th February 2011

EURO/GBP - 1.1761 Today is the day the Bank of England meets. The expectation is for more of the same; no interest rate increase and no increase in the quantitative easing programme. Uncertainty arises from the high inflation figures we are seeing and from the contraction in the economy in the fourth quarter of last year.  Continue Reading…

Posted February 9th, 2011 by Charles Purdy

EUR/GBP Rate & Comments for 9th February 2011

EURO/GBP - 1.1783 Like yesterday, limited UK economic data led to a steady day for sterling against most other currencies. The UK government has increased the levy to be raised on the banks to £2.5 billion. This hasn’t gone down well with the banks. The market is waiting for the Bank of England meeting tomorrow and  Continue Reading…

Posted February 8th, 2011 by Charles Purdy

EUR/GBP Rate & Comments for 8th February 2011

EURO/GBP - 1.1830 A quiet day for sterling yesterday with sterling holding onto gains against the euro and the US$. As mentioned yesterday there is a lack of substantive economic data this week and the market is waiting for the Bank of England meeting on Thursday. Talk of a rise in UK interest rates continues to  Continue Reading…

Posted February 7th, 2011 by Charles Purdy

EUR/GBP Rate & Comments for 7th February 2011

EURO/GBP - 1.1880 On the back of better than expected UK economic data last week the markets began to talk about the UK increasing interest rates sooner than later. Mervyn King, Governor of the Bank of England, has made it clear that he wants to avoid raising interest rates as he thinks that it will affect  Continue Reading…

Posted February 4th, 2011 by Charles Purdy

EUR/GBP Rate & Comments for 4th February 2011

EURO/GBP - 1.1842 Sterling continued its run against the US dollar yesterday, hitting a high of $1.6276/£1 after services PMI data came in stronger than expected indicating strong services sector activity. With this week’s better than expected manufacturing, construction and now services figures; the case for an interest rate hike has returned. Comments from Bank of  Continue Reading…

Posted February 3rd, 2011 by Charles Purdy

EUR/GBP Rate & Comments for 3rd February 2011

EURO/GBP - 1.1744 Sterling hit a 3 month high against the US dollar yesterday, touching $1.6232/£1 as strong data and positive comments from policymakers gave rise to expectations of interest rate hikes sooner than expected. Construction figures showed that activity returned to growth last month, with the numbers easily beating expectations. Andrew Sentance (who has been  Continue Reading…

Posted February 2nd, 2011 by Charles Purdy

EUR/GBP Rate & Comments for 2nd February 2011

EURO/GBP - 1.1687 Sterling shrugged off last week’s poor GDP and concerns over the situation in Egypt to hit an 11 week high against the US dollar of $1.6143/£1. Manufacturing purchasing figures surged to the highest level since the survey began in 1992 and led to markets pricing in a 70% chance of an interest rate  Continue Reading…

Posted February 1st, 2011 by Charles Purdy

EUR/GBP Rate & Comments for 1st February 2011

EURO/GBP - 1.1676 Sterling rose against the US dollar on Monday, boosted by a strong day for the euro as data showed increasing inflation in the region and increased expectations of an interest rate hike in the euro zone. Sterling also saw a boost from a newspaper article in which Martin Weale (the latest Bank of  Continue Reading…

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