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Posted June 16th, 2011 by Charles Purdy

EUR/GBP Rate & Comments for 16th June 2011

EURO/GBP - 1.1439

Sterling fell to a three week low against the US dollar yesterday, as investors bought into safe-haven currencies. Furthermore, poor UK data saw confidence drop in the UK recovery that left sterling vulnerable to more losses in the near term. Figures showed that the number of those claiming unemployment benefit rose sharply, jumping to 19,600 against an expectation of 7,000 and the biggest jump since July 2009. Earnings growth also slipped that added to the view that UK interest rates would stay on hold into 2012. Sterling did gain against the euro as Greek related market turmoil continued to impact on the single currency. Out today we have retail sales figures that are expected to show a decline from the previous month so call in now for a live exchange rate to avoid losing out.

In the euro zone, the euro had the worst day in a month, hitting a 2 ½ week low against the US dollar as investors panicked about Greece’s debt crisis and its potential impact. Ongoing disagreement over a new bailout plan also caused concern for investors as an FT report stated that the German inspired bailout plan could require European governments to provide an extra €20bn. Analysts also stated that a Greek national strike against austerity measures was also keeping the euro lower as it highlighted the country’s outrage against efforts to reign in its debts.

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Posted June 15th, 2011 by Charles Purdy

EUR/GBP Rate & Comments for 15th June 2011

EURO/GBP - 1.1367 Sterling strengthened against a weak US dollar as UK inflation held steady at 4.5% year-on-year in May. Despite holding at a 2 1/2-year high and staying significantly higher than the Bank of England’s 2% target, analysts felt that the data left the UK no nearer to an interest rate hike than before, with  Continue Reading…

Posted June 14th, 2011 by Charles Purdy

EUR/GBP Rate & Comments for 14th June 2011

EURO/GBP – 1.1360 Sterling hit its strongest level in more than a week against the euro on Monday, helped by concerns over euro zone debt and investors speculating over data released today that is expected to show higher than anticipated UK inflation. Against the US dollar, sterling also gained hitting a high of $1.6340/£1 –  Continue Reading…

Posted June 13th, 2011 by Charles Purdy

EUR/GBP Rate & Comments for 13th June 2011

EURO/GBP - 1.1334 Sterling recovered from a one month low against the euro as investors took profits in the euro as the ECB signalled that it would raise interest rates next month as had widely been expected. The Bank of England meeting also went as expected, with the MPC voting to maintain interest rates at the  Continue Reading…

Posted June 10th, 2011 by Charles Purdy

EUR/GBP Rate & Comments for 10th June 2011

EURO/GBP - 1.1263 Sterling recovered from a one month low against the euro as investors took profits in the euro as the ECB signalled that it would raise interest rates next month as had widely been expected. The Bank of England meeting also went as expected, with the MPC voting to maintain interest rates at the  Continue Reading…

Posted June 9th, 2011 by Charles Purdy

EUR/GBP Rate & Comments for 9th June 2011

EURO/GBP - 1.1236 Sterling recovered earlier losses against the euro and US dollar after investors played down earlier comments by rating agency Moody’s. The credit rating agency had earlier stated that the UK’s AAA credit rating would be at risk if the government failed to hit debt reduction targets amidst slowing growth. Figures from the British  Continue Reading…

Posted June 8th, 2011 by Charles Purdy

EUR/GBP Rate & Comments for 8th June 2011

EURO/GBP - 1.1186 Sterling gained against a weaker US dollar but gains were capped and it slipped against the euro on soft UK data. Figures from the Halifax showed that house prices increased by only 0.1% last month and an unexpected drop in retail sales undermined the fragility of the UK economy. With the Bank of  Continue Reading…

Posted June 7th, 2011 by Charles Purdy

EUR/GBP Rate & Comments for 7th June 2011

EURO/GBP - 1.1179 Sterling dropped to a fresh 1 month low yesterday against the euro, dipping below €1.1190/£1 as the euro zone shrugged off concerns over Greek debt and the IMF raised the prospect of further quantitative easing in the UK. Whilst the IMF backed the UK government’s plans to reduce the budget deficit on Monday,  Continue Reading…

Posted June 6th, 2011 by Charles Purdy

EUR/GBP Rate & Comments for 6th June 2011

EURO/GBP - 1.1228 Sterling ended last week by falling to a 4 week low against the euro on optimism over a new bailout for Greece. Disappointing UK data provided further evidence that UK interest rates are likely to remain at record lows and this saw sterling drop – it starts the week hovering just above €1.12/£1.  Continue Reading…

Posted June 3rd, 2011 by Charles Purdy

EUR/GBP Rate & Comments for 3rd June 2011

EURO/GBP - 1.1292  Sterling hit a two-week low versus the euro on Thursday, knocked by downbeat comments from a Bank of England policymaker which added weight to the view that domestic interest rates will stay on hold for some time. In addition, the euro gained support following positive comments from German Chancellor Angela Merkel. Sterling did  Continue Reading…

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