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Posted April 12th, 2011 by Charles Purdy

EUR/GBP Rate & Comments for 12th April 2011

EURO/GBP - 1.1315

Sterling hit a 5 ½ month low against the euro in early trading yesterday on expectations that interest rates in the euro zone would continue to rise at faster rate than in the UK. The pound dropped to €1.1287/ £1 early on, but staged a slight recovery on speculation that today’s inflation figures will come in higher and provide some impetus for the Bank of England to raise interest rates following the European Central Bank’s 0.25% rate rise last week. Investors have pushed back expectations of a UK rate hike to August following poor figures and downbeat comments from key policymakers. March’s inflation data is released at 9:30am, so call in now to ensure you take advantage of any movements.

In the euro zone, the euro stayed close to highs against sterling and the US dollar yesterday as markets priced in another interest rate hike in the region in July. However, the euro fell slightly against the US dollar, after hitting a 15 month high of $1.4489/ €1 on Friday following a near government ‘shutdown’ in the USA. This week, the members of the European Commission hope to convene with all of Portugal’s political parties to address the rescue programme prior to the upcoming elections on 5 June. Portugal is the third Eurozone country to receive a multi- billion euro bailout along side Greece and Ireland, but there has been little effect on the euro exchange rate. Released later today there are economic sentiment figures, so call in to avoid any adverse market movements.

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Posted April 11th, 2011 by Charles Purdy

EUR/GBP Rate & Comments for 11th April 2011

EURO/GBP - 1.1299 Sterling hit a 5 ½ month low against the euro in early trading this morning on expectations that interest rates in the euro zone would continue to rise at faster rate than in the UK. The European Central Bank last week raised interest rates by 0.25% and the Bank of England kept rates  Continue Reading…

Posted April 8th, 2011 by Charles Purdy

EUR/GBP Rate & Comments for 8th April 2011

EURO/GBP - 1.1369 The Bank of England did as expected and kept interest rates on hold for the 25th month in a row. Now we wait for the Bank of England minutes to find out their view on the UK economy and how the members of the Monetary Policy committee voted on interest rates. Following the  Continue Reading…

Posted April 7th, 2011 by Charles Purdy

EUR/GBP Rate & Comments for 7th April 2011

EURO/GBP – 1.1399 Sterling benefitted from some better economic data here in the UK and negative sentiment elsewhere. Here in the UK we saw the release of a better than expected figure for the services purchasing managers index. This rose to a 13 month high in March. As services are such a key part of  Continue Reading…

Posted April 6th, 2011 by Charles Purdy

EUR/GBP Rate & Comments for 6th April 2011

EURO/GBP - 1.1441 Sterling benefitted from some better economic data here in the UK and negative sentiment elsewhere. Here in the UK we saw the release of a better than expected figure for the services purchasing managers index. This rose to a 13 month high in March. As services are such a key part of the  Continue Reading…

Posted April 5th, 2011 by Charles Purdy

EUR/GBP Rate & Comments for 5th April 2011

EURO/GBP - 1.1377 A steady start to the week for sterling gaining slightly against the euro and the US$. A survey by the British Chamber of Commerce highlighted the fragility of the UK economic recovery with cash flow and price pressures being key constraints. The good news was that export activity continued to be strong. The  Continue Reading…

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  Continue Reading…

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  Continue Reading…

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