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Posted April 1st, 2011 by Charles Purdy

EUR/GBP Rate & Comments for 1st April 2011

EURO/GBP - 1.1339

Sterling fell to a 5 month low against the euro yesterday as euro-region inflation data left investors betting that the European Central Bank will raise interest rates before the Bank of England. Expectations have been that the ECB will start hiking rates in April, and yesterday’s data cemented this. Analysts now feel that the euro could test last October’s highs of 1.11/£1 against sterling as sentiment improves towards peripheral European countries and UK data disappoints. Against the US dollar sterling hit a high of $1.6152/£1, the strongest since March 24, boosted by data that showed house prices unexpectedly increased. Out today we have manufacturing sector activity data, so call in now for a live exchange rate to ensure that you don’t miss out. 

The euro performed well against other currencies on Thursday, after inflation data essentially confirmed rumours that the European Central Bank would raise interest rates in its next meeting. The euro reached a ten month high against the yen of ¥117.90/€1, the highest since May 2010. Analysts feel that the euro will stay strong in the short term, but towards the end of the year it should return to more normal levels. Out later today, there is European unemployment data, so call in now for a live exchange rate.

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