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Posted October 31st, 2011 by Charles Purdy

EUR/GBP Rate & Comments for 31st October 2011

EURO/GBP - 1.1428

Sterling gained against the US dollar on Friday afternoon in the wake of increased risk appetite following on from last week’s EU summit. The announcement that bondholders would take a 50% cut and that the EFSF would be boosted was given a positive endorsement by the markets, yet there are still further risks to come. The week ahead in the UK will see growth come back under the spotlight. Business surveys and the first estimate of 3rd Quarter GDP are expected to point towards to a weakening outlook, but last week saw improving figures on public finances which validates the coalition’s austerity measures. Volatility is expected to remain high so call in now for a live exchange rate. 

In the euro zone, the big news of last week was the EU summit which – after being postponed – delivered on its main goals; agreement from bondholders on a 50% ‘haircut’ to repayment amounts and an expansion of the EFSF. However, with little detail announced over the implementation of these measures, some analysts remain anxious. Growth will be back on the agenda in Europe as well this week with a G20 meeting and region-wide business activity figures. Ensure you don’t lose out and speak to one of the team today.

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Posted October 28th, 2011 by Charles Purdy

EUR/GBP Rate & Comments for 28th October 2011

EURO/GBP – 1.1356  Sterling hit a 7 week high against the US dollar but dropped by around 1.5% against the euro as European leaders struck a deal on the euro zone debt crisis. The agreement saw risk appetite improve significantly and investors look to invest in the euro again. Sterling’s underperformance against the euro has  Continue Reading…

Posted October 27th, 2011 by Charles Purdy

EUR/GBP Rate & Comments for 27th October 2011

EURO/GBP - 1.1418 Sterling fell off earlier highs against the US dollar yesterday as it followed the euro downwards against the US currency as markets nervously awaited the results from yesterday’s EU summit. After a night of deadlocked talks the EU summit finally delivered what most had been expecting – a 50% write down for holders  Continue Reading…

Posted October 26th, 2011 by Charles Purdy

EUR/GBP Rate & Comments for 26th October 2011

EURO/GBP - 1.1501 Sterling slipped against the US dollar, falling off a 6 week high as perceived ‘riskier’ currencies came under pressure on growing concerns over today’s EU summit. However, sterling was slightly higher against the euro, hovering around €1.15/£1 as optimism over a fully comprehensive solution slipped. Markets have overall been very quiet as investors  Continue Reading…

Posted October 25th, 2011 by Charles Purdy

EUR/GBP Rate & Comments for 25th October 2011

EURO/GBP - 1.1479 Sterling dropped against the US dollar yesterday, coming off a 6 week high of $1.6001/£1 as uncertainty over the European debt crisis put pressure on ‘riskier’ currencies. The poor appetite for risk and lack of any positive UK data meant that investors took profits from sterling’s earlier rally. With the UK exposed to  Continue Reading…

Posted October 24th, 2011 by Charles Purdy

EUR/GBP Rate & Comments for 24th October 2011

EURO/GBP - 1.1482 Sterling strengthened to a 6 week high against the US dollar this morning as it tracked optimism that a deal would soon be reached to solve the European debt crisis. The weekend’s meetings of European officials (which had already been delayed by a week and was supposed to deliver a comprehensive solution by  Continue Reading…

Posted October 21st, 2011 by Charles Purdy

EUR/GBP Rate & Comments for 21st October 2011

EURO/GBP – 1.1459  Sterling fell after an earlier rally against the US dollar yesterday, but gained against the euro after investors questioned how much progress would be made in the European debt crisis over the weekend. Sterling got an earlier boost against the US dollar as an unexpected jump in retail sales in the UK  Continue Reading…

Posted October 21st, 2011 by Charles Purdy

EUR/GBP Rate & Comments for 20th October 2011

EURO/GBP - 1.1456 Sterling hit a one month high against the US dollar yesterday, helped by improved investor sentiment towards riskier assets. However, the rally ran out of steam as sterling broke through $1.58/£1 and investors took profits. Sterling strengthened despite minutes from the recent Bank of England meeting that showed real concern about the economic  Continue Reading…

Posted October 19th, 2011 by Charles Purdy

EUR/GBP Rate & Comments for 19th October 2011

EURO/GBP - 1.1402 Sterling fell against the US dollar after UK annual inflation data broke above 5%, raising concerns over stagflation that saw many investors start to build bets against the pound. In addition, many expect today’s Bank of England minutes to be particularly negative after the extra £75bn of Quantitative Easing that was announced earlier  Continue Reading…

Posted October 18th, 2011 by Charles Purdy

EUR/GBP Rate & Comments for 18th October 2011

EURO/GBP - 1.1470 Sterling slipped against the US dollar but gained against the euro yesterday after comments from a German policymaker deflated investor optimism over a potential euro zone bailout. As a result, investors reversed the sell off of US dollars that began over the weekend following positive comments from G20 finance ministers regarding a definitive  Continue Reading…

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