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Posted July 15th, 2011 by Charles Purdy

EUR/GBP Rate & Comments for 15th July 2011

EURO/GBP – 1.1416 

Sterling has had an interesting week, gaining against the US dollar and euro. The pound hit a three-week high against a weak US dollar on Thursday, but slipped from earlier highs against the euro as concerns about the fragile UK economic recovery dented sterling’s prospects and reinforced the view that UK interest rates will stay on hold for a long period. Sterling’s recovery from lows hit earlier in the week has more to do with poor US figures than any positive news from the UK. Many analysts feel that sterling cannot push much beyond $1.62/£1 against the US dollar given the prospect of further quantitative easing in the UK. Call in now for a live exchange rate.

The euro has had a volatile week as Italy joined the ever-growing list of countries succumbing to the sovereign debt crisis. The euro came under pressure as Italian bond yields hit a 15-year high – i.e. Italy has to pay astronomical interest rates in order to borrow. However, these eased as the country’s austerity budget passed its first hurdle. The 4-year package aims to balance the country’s books by 2014 and is worth €48bn. Inflation for the region came in as expected at 2.7% as had been expected. Call in now for a live exchange rate.

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Posted July 14th, 2011 by Charles Purdy

EUR/GBP Rate & Comments for 14th July 2011

EURO/GBP - 1.1358 Sterling climbed against a weaker US dollar yesterday as US Federal Reserve Chairman Ben Bernanke hinted at the possibility of further monetary stimulus for the US economy. The pound recovered from lows earlier in the week to peak at $1.6120/ £1. However, sterling fell against the euro as data released showed that the  Continue Reading…

Posted July 13th, 2011 by Charles Purdy

EUR/GBP Rate & Comments for 13th July 2011

EURO/GBP - 1.1379 Sterling fell to a new 5 ½ month low against the US dollar yesterday after UK consumer price inflation unexpectedly dropped which prompted investors to push back expectations of an interest rate hike in the UK. Inflation fell to 4.2% from 4.5% unexpectedly in June and the trade gap widened by £0.9bn, pointing  Continue Reading…

Posted July 12th, 2011 by Charles Purdy

EUR/GBP Rate & Comments for 12th July 2011

EURO/GBP - 1.1388 It was a volatile day for the pound yesterday as sterling fell to a 5 month low against the US dollar and hit a 3 month low versus the yen as investors looked for safer haven currencies on fresh concerns over the euro zone. Sterling dropped to $1.59/£1 against the US dollar, but  Continue Reading…

Posted July 11th, 2011 by Charles Purdy

EUR/GBP Rate & Comments for 11th July 2011

EURO/GBP - 1.1279  Sterling strengthened on Friday against the US dollar after much weaker than expected US employment figures saw investors reverse bets against the pound. Sterling had hardly moved earlier in the day when figures showed that UK construction struggled and producer price inflation surged to the highest level since October 2008. There are some  Continue Reading…

Posted July 8th, 2011 by Charles Purdy

EUR/GBP Rate & Comments for 8th July 2011

EURO/GBP – 1.1132  Sterling slipped against the US dollar and euro on Thursday after the Bank of England kept interest rates on hold at a record 0.5% and investors speculated that it might call on further Quantitative Easing to boost a faltering UK recovery. Manufacturing output rose 1.8% in May, after a 1.6% drop in  Continue Reading…

Posted July 7th, 2011 by Charles Purdy

EUR/GBP Rate & Comments for 7th July 2011

EURO/GBP - 1.1180 Sterling fell against both the euro and US dollar yesterday as an interest rate hike in China and euro zone peripheral debt worries sent investors seeking safety in the safe haven US dollar. The Bank of England is expected to leave interest rates at a record low of 0.5% later today despite inflation  Continue Reading…

Posted July 6th, 2011 by Charles Purdy

EUR/GBP Rate & Comments for 6th July 2011

EURO/GBP - 1.1111 Sterling strengthened against the US dollar and euro yesterday after stronger than expected UK services sector activity data came in better than expected, although further gains looked limited by an overall gloomy outlook for economic growth. Recovering from a 3 month low in May the services PMI data saw sterling jump a cent  Continue Reading…

Posted July 5th, 2011 by Charles Purdy

EUR/GBP Rate & Comments for 5th July 2011

EURO/GBP - 1.1060 Sterling strengthened slightly against the euro and US dollar yesterday despite data showing that construction activity fell more than estimated in June, adding to speculation that the Bank of England will keep interest rates at a record low well into next year. The pound gained some support following a report by Recruitment Company  Continue Reading…

Posted July 4th, 2011 by Charles Purdy

EUR/GBP Rate & Comments for 4th July 2011

EURO/GBP - 1.1085 Sterling had a poor end to last week, finishing at a 15 month low against the euro as poor manufacturing figures supported the view that the Bank of England would keep interest rates on hold well into next year. Manufacturing figures dropped to a 21 month low, with analysts expecting sterling to remain  Continue Reading…

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