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Posted April 13th, 2011 by Charles Purdy

EUR/GBP Rate & Comments for 13th April 2011

EURO/GBP - 1.1223

Sterling hit a low of €1.1233/ £1 against the euro yesterday as inflation figures came in lower than expected which left investors questioning the prospects for an interest hike in the UK. This has widely been regarded as a positive though, as the UK needs inward investment from overseas in order to get back on track. A weak pound will help achieve this aim and as such, this should be seen as a positive. Figures released yesterday showed that UK exports had increased and the trade deficit had narrowed – all good news for the economy. Released today, we have UK unemployment figures so call in now for a live exchange rate.

The euro rose to a new 5 ½ month high against sterling in early trading this morning, as the outlook for interest rates in the UK and euro zone continues to diverge. Many analysts expect further hikes from the ECB – possibly before the Bank of England and as such this has drawn demand for the euro. The euro dropped slightly against the US dollar for a second day as the IMF European Commission met in Lisbon to discuss the €80bn bailout of Portugal. Industrial production figures are released later so ensure you are protected. 

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