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Posted May 16th, 2011 by Charles Purdy

EUR/GBP Rate & Comments for 16th May 2011

EURO/GBP - 1.1464

Sterling slipped on Friday after stronger than expected GDP growth in Europe reinforced the view that interest rates would rise at a faster rate in the euro zone than in the UK. Sterling also slipped against the US dollar, falling below the $1.62/ £1 mark. Stronger than expected GDP growth in France and Germany sets the UK up well in the long term, as you would expect growing economies to see demand for UK exports increase. It is a quiet day for data today, but a fairly busy week ahead. There are inflation figures released tomorrow ahead of the Bank of England’s minutes on Wednesday. These are both key pieces of data with reference to the likelihood of a UK interest rate hike, so ensure you speak to one of the team to avoid losing out.
 
In the euro zone, the big news over the weekend was the arrest of IMF chief Dominique Strauss-Kahn for an alleged sexual assault. The euro fell to a 7 week low against the US dollar as investor risk appetite took a hit and Greece worried that the arrest could postpone a debt restructuring. Strauss-Kahn had been due to meet euro zone finance ministers today to discuss debt-ridden Greece and a potential restructuring of the country’s bail out package, and was seen as a key player in negotiations. Ensure you call in now to take advantage of any favourable moves off the back of the news.

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Posted May 13th, 2011 by Charles Purdy

EUR/GBP Rate & Comments for 13th May 2011

EURO/GBP - 1.1413 Sterling had a poor end to an otherwise positive week on Thursday, falling against the US dollar and euro after data showed manufacturing rose less than estimated. Aside from that, sterling had rebounded on Wednesday as the Bank of England unexpectedly raised its long term forecast for interest rates to 5%. This saw  Continue Reading…

Posted May 12th, 2011 by Charles Purdy

EUR/GBP Rate & Comments for 12th May 2011

EURO/GBP - 1.1492 Sterling jumped by 1.3% against the euro, breaking the €1.15/ £1 barrier for the first time in 6 weeks after Bank of England Governor Mervyn King surprised markets by raising long term inflation forecasts to 5% in yesterday’s quarterly inflation report, increasing the likelihood of an interest rate hike sooner than expected. Sterling  Continue Reading…

Posted May 11th, 2011 by Charles Purdy

EUR/GBP Rate & Comments for 11th May 2011

EURO/GBP - 1.1367 Sterling slipped from a one month high against the euro and dropped against the US dollar yesterday as investors braced themselves for further losses ahead of today’s Bank of England quarterly inflation report. The Bank is expected to forecast higher inflation in the short term, but importantly it is expected to revise its  Continue Reading…

Posted May 10th, 2011 by Charles Purdy

EUR/GBP Rate & Comments for 10th May 2011

EURO/GBP - 1.1427 Sterling fell to its lowest in nearly three weeks against the US dollar yesterday, getting dragged down by euro weakness against the US dollar as a downgrade of Greece’s credit rating worsened euro zone debt concerns. Sterling dropped to a low of $1.6270/ £1 – the lowest since April 19th. In a quiet  Continue Reading…

Posted May 9th, 2011 by Charles Purdy

EUR/GBP Rate & Comments for 9th May 2011

EURO/GBP - 1.1352 Sterling climbed against the euro and US dollar on Friday as higher than expected producer price inflation left many speculating that the Bank of England could raise interest rates sooner than expected. In addition, the initial $11bn float of a commodity trader in London also saw high demand for sterling. In terms of  Continue Reading…

Posted May 6th, 2011 by Charles Purdy

EUR/GBP Rate & Comments for 6th May 2011

EURO/GBP - 1.1261 Sterling recovered from a 13-month low against the euro on Thursday after European Central Bank President Jean- Claude Trichet signalled interest-rate increases may be delayed. This saw many investors lose interest in the single currency after speculation earlier in the week had focussed on potential rate hikes in the euro zone as early  Continue Reading…

Posted May 5th, 2011 by Charles Purdy

EUR/GBP Rate & Comments for 5th May 2011

EURO/GBP - 1.1112 Sterling fell to a new 13 month low against the euro yesterday as UK construction data added to Tuesday’s poor manufacturing figures and exacerbated sterling’s fall. In addition, reports showed U.K. house prices fell in April by 0.2%, the first decline in three months, which saw an increase in speculation that the Bank  Continue Reading…

Posted May 4th, 2011 by Charles Purdy

EUR/GBP Rate & Comments for 4th May 2011

EURO/GBP - 1.1117 Sterling plummeted against both the euro and US dollar yesterday after a weak reading of UK manufacturing data left investors pushing back expectations of an interest rate hike in the UK. Sterling hit the lowest level against the euro since March 2010, touching €1.1102/£1 this morning after the data was released. Weak UK  Continue Reading…

Posted May 3rd, 2011 by Charles Purdy

EUR/GBP Rate & Comments for 3rd May 2011

EURO/GBP - 1.1216 Sterling fell against the euro on Friday and slipped off highs against the US dollar as thin trading related to the UK bank holiday triggered relatively large movements in the sterling exchange rate. Sterling had been over $1.67/£1 heading into the extended weekend, but news over Osama Bin Laden’s death triggered US dollar  Continue Reading…

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