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Posted April 4th, 2011 by Charles Purdy

EUR/GBP Rate & Comments for 4th April 2011


EURO/GBP - 
1.1362

Will this be a better week for sterling? Probably not. The Bank of England meets this week and the expectation is for interest rates to be kept on hold as the Monetary Policy Committee wait to see how the UK economy is being affected by the Governments austerity cuts. Economic data to be released this week are producer price inflation figures which are expected to show increasing input costs and industrial production for February which is forecast to show an annualised increase of 4.3%. So don’t expect sterling to show a resurgence against the euro and the commodity backed currencies this week. In fact the trend seems to be for further weakening. So get in touch now to get the latest and prices. 

The euro seems to be the markets favourite at the moment despite the Irish having to increase their banks bailout funds yet again and Portugal on the edge of requiring a bailout. The reason for this is that the European Central Bank are expected at this weeks meeting to increase interest rates by 0.25%, The reason for this is their desire to fight inflation which is too high. Economic data released this week by Germany, the engine of euro zone growth, are industrial production and industrial orders which are both expected to be positive. Call in now for the latest prices.

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