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Posted August 31st, 2011 by Charles Purdy

EUR/GBP Rate & Comments for 31st August 2011

EURO/GBP - 1.1296

Sterling had a turbulent day yesterday hitting a low of €1.1267/£1. Sterling also depreciated against the US$. This was largely due to a decrease in the UK’s service sector activity over the last three months. Moreover, July consumer credit data showed an unexpected slow down in borrowing; alongside UK net mortgage lending remaining at a standstill. This data continues to demonstrate that economic recovery in the UK is far from robust. As a result, it makes the pound vulnerable and less appealing to investors. Out on Thursday is Nationwide House Prices data for August. Call in now for a quote.    

In the Euro zone, the euro fell 0.5% against the US$ and against a majority of its counterparts as there is increasing speculation that the European Central Bank has terminated interest rate hikes for this year. Yesterday’s data showed a vigorous decline in Euro zone consumer confidence for a sixth time. This result is largely due to increasing fears of governments’ inability to repay their debt. Furthermore, Italian bonds declined for a seventh day. Out today is German Retail and Unemployment data. Call in now for a live price to avoid losing out.     

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Posted August 30th, 2011 by Charles Purdy

EUR/GBP Rate & Comments for 30th August 2011

EURO/GBP - 1.1297 Sterling depreciated 1.5% against the US$ and was the second worst performer after the Swiss franc. The pound hit a low of $1.623/£1 on Friday after Federal Reserve Chairman, Ben Bernanke failed to provide any direct indication that the U.S. economy would receive further liquidity. The pound also depreciated 1.4% versus the euro  Continue Reading…

Posted August 26th, 2011 by Charles Purdy

EUR/GBP Rate & Comments for 26th August 2011

EURO/GBP – 1.1297  After a relatively good week for sterling, yesterday the pound weakened against many of its major counterparts. Sterling dropped 0.6% versus the US dollar in addition to falling for a third consecutive day against the euro. Much of this was fuelled by a drop in U.K. consumer confidence in July as well  Continue Reading…

Posted August 25th, 2011 by Charles Purdy

EUR/GBP Rate & Comments for 25th August 2011

EURO/GBP - 1.1342 Sterling fell against the US dollar yesterday causing further loses as automatic ‘sell’ orders got triggered, hitting a low of $1.6375/ £1. The euro also climbed verses sterling by 0.5%. Investors suspect that sterling will struggle today and find direction only after Friday’s speech by Federal Reserve Chairman Ben Bernanke, in which he  Continue Reading…

Posted August 24th, 2011 by Charles Purdy

EUR/GBP Rate & Comments for 24th August 2011

EURO/GBP - 1.1436 Sterling strengthened by 0.4% against the US dollar yesterday hitting $1.6534/£1. Sterling was also helped by positive data that showed an improvement in British factory orders in August. Although this had minimal impact on the currency, had this come in lower, it is likely that it would have had a negative impact, pushing  Continue Reading…

Posted August 23rd, 2011 by Charles Purdy

EUR/GBP Rate & Comments for 23rd August 2011

EURO/GBP - 1.1469 Sterling rose against the US dollar yesterday hitting a high of $1.6520/£1 as markets became more and more concerned with turbulence in the financial markets and particularly the sovereign debt crisis. Sterling also made gains against the euro. Investors are currently viewing sterling as a ‘semi safe haven’ as it is perceived to  Continue Reading…

Posted August 22nd, 2011 by Charles Purdy

EUR/GBP Rate & Comments for 22th August 2011

EURO/GBP - 1.1448 Sterling hit a 3 ½ month high against the US dollar on Friday as investors favoured sterling over the US dollar and euro on concerns over the sovereign debt crisis. With so many concerns over sovereign debt, sterling also gained support from data that showed the UK government’s public finances posted a surplus  Continue Reading…

Posted August 19th, 2011 by Charles Purdy

EUR/GBP Rate & Comments for 19th August 2011

EURO/GBP – 1.1522  Sterling had a positive end to the week, breaking above €1.15/£1 against the euro and nearly hitting $1.66/£1 against the US dollar earlier in the week. Retail sales out today for July increased by a slim 0.2% showing consumers and retailers are still in difficult circumstances. This did cause sterling to fall  Continue Reading…

Posted August 18th, 2011 by Charles Purdy

EUR/GBP Rate & Comments for 18th August 2011

EURO/GBP - 1.1453 Sterling strengthened to a 3 ½ month high against the US dollar yesterday after investors reversed bets against the pound and there was heavy demand from a UK clearing bank related to merger activity. The pound reversed earlier losses as the Bank of England’s meeting minutes showed that the Monetary Policy Committee were  Continue Reading…

Posted August 17th, 2011 by Charles Purdy

EUR/GBP Rate & Comments for 17th August 2011

EURO/GBP - 1.1415 Sterling gained yesterday against the US dollar after figures released showed that UK inflation accelerated more than forecast. With many analysts expecting a drop in inflation, figures showed that the annual rate increased to 4.4% in July – up from 4.2% the previous month and more than the 4.3% that had been forecast.  Continue Reading…

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