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Posted April 18th, 2011 by Charles Purdy

EUR/GBP Rate & Comments for 18th April 2011

EURO/GBP - 1.1336

strengthened on Friday against the euro as the single currency was hurt by concerns over periphery debt, with suggestions that Greece would need to restructure its debt. The euro’s losses were limited, as expectations remained that the European Central Bank would keep raising interest rates at a faster rate than the UK. This week sees the start of a run of public holidays in the UK, so liquidity and volatility is likely to be less than it has been. One major piece of data released this week is the Bank of England’s minutes from their recent meeting. With a sudden dip in inflation, many are expecting the minutes to show that the Bank will keep interest rates lower for longer. Call in now for a live exchange rate.  

In the euro zone, the euro fell this morning against the US dollar as markets grew uneasy over a Finnish election. Voters in the country handed an anti-euro party a key position in parliament which left markets concerned that Finland could use its right to vote on EU bailout funds to slow down requests to shore up debt in Portugal. With fresh concerns over Greece and now issues with Finland, we could see the euro falter. Call in now to ensure that you don’t lose out.

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