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Posted March 31st, 2011 by Charles Purdy

EUR/GBP Rate & Comments for 31st March 2011

EURO/GBP - 1.1375

Sterling
recovered from Tuesday’s five month low against the euro and strengthened by 0.7% to hit a high of €1.1424/£1. It also made gains against the dollar hitting a daily high of $1.6083/£1 after data showed UK service sector activity grew at the fastest monthly pace in January since July 2002. In addition, sterling benefited as Bank of England policymaker Martin Weale declared that the bank should increase interest rates as there is a high risk that inflation will not return to its 2% target. House price figures from Nationwide are expected later today and are expected to show a small drop. Ensure you don’t miss out by speaking to a trader today.

In the euro zone, the euro took a slight hit today falling by 0.4% against sterling. Despite this fall on the back of sterling strength, the euro is up 2.3% on the year and is currently buoyed by market expectations that the European Central Bank’s will raise interest rates before the Bank of England. Many analysts believe that this will happen as early as next month. Out today there is German retail sales data and European inflation – both of which could cause volatility.

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Posted March 30th, 2011 by Charles Purdy

EUR/GBP Rate & Comments for 30th March 2011

EURO/GBP - 1.1393 Sterling fell to a 5 month low against the euro yesterday on expectations that UK interest rate rises would lag the euro zone. The pound also struggled to move off a 2 month low against the US dollar. UK data showed that 4th quarter GDP fell less than expected; with revised figures showing  Continue Reading…

Posted March 29th, 2011 by Charles Purdy

EUR/GBP Rate & Comments for 29th March 2011

EURO/GBP - 1.1343 Sterling hit a 5 month low against the euro and a 2 month low against the US dollar, as investors pushed back their expectations of when the Bank of England would look to raise interest rates in the UK. Sterling dropped to a low of €1.1337/£1 in late afternoon trading and $1.5936/£1 earlier  Continue Reading…

Posted March 28th, 2011 by Charles Purdy

EUR/GBP Rate & Comments for 28th March 2011

EURO/GBP - 1.1379 Sterling held around 2011 lows against the euro on Friday and was poised for further falls on concerns over UK economic growth and uncertainty about the timing of an interest rate hike by the Bank of England. Poor retail sales figures saw sterling extend losses that began with UK growth forecasts being cut  Continue Reading…

Posted March 25th, 2011 by Charles Purdy

EUR/GBP Rate & Comments for 25th March 2011

EURO/GBP - 1.1375 Sterling fell to a 4 ½ month low against the euro as poor UK retail sales data raised concerns over a fragile economy and credit rating agency Moody’s warned that slower growth combined with spending cuts could make it harder for the government to rein in the deficit. Retail sales fell by 0.8%  Continue Reading…

Posted March 24th, 2011 by Charles Purdy

EUR/GBP Rate & Comments for 24th March 2011

EURO/GBP - 1.1520 Sterling fell by 0.8% against the US dollar as Chancellor George Osborne lowered the estimate for UK economic growth to 1.7% this year from a previous forecast of 2.1%. Inflation is also expected to remain between 4% and 5% which raises the possibility that we could be looking at a period of “stagflation”.  Continue Reading…

Posted March 23rd, 2011 by Charles Purdy

EUR/GBP Rate & Comments for 23rd March 2011

EURO/GBP - 1.1545 CPI inflation hit the highest level since October 2008 yesterday, and saw sterling hit a new 14 month high of $1.64/£1. Higher than expected inflation saw renewed calls for an interest rate hike, with markets pricing in a hike by the Bank of England as early as May. Whilst it is all too  Continue Reading…

Posted March 22nd, 2011 by Charles Purdy

EUR/GBP Rate & Comments for 22nd March 2011

EURO/GBP - 1.1470 Sterling hit a 2 week high against the US dollar and is set to test the highest levels for over a year if inflation figures today come in higher than expected. UK CPI is expected to grow to 4.2% in February, up from 4.0% in January and nearly double the Bank of England’s  Continue Reading…

Posted March 21st, 2011 by Charles Purdy

EUR/GBP Rate & Comments for 21st March 2011

EURO/GBP - 1.1452 Sterling is set for a busy week ahead with the Budget, Bank of England minutes, inflation and retail sales figures all being released against a backdrop of air strikes in Libya and worries over a nuclear meltdown in Japan. Risk sentiment has shifted to “war” mode as Allied forces launched air strikes exactly  Continue Reading…

Posted March 18th, 2011 by Charles Purdy

EUR/GBP Rate & Comments for 18th March 2011

EURO/GBP - 1.1450 Sterling dropped to a 4 month low against the euro, but gained against the US dollar yesterday and overnight. The main impetus in trading yesterday was a stronger than expected bond auction in Spain which set the tone for risk appetite. Overnight we have seen a large scale co-ordinated intervention in the currency  Continue Reading…

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