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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 euro zone package announcement at next weekend’s summit of European leaders. There was relatively little data released in the UK today, with investors awaiting key inflation and retail sales data later in the week which are expected to show that the UK recovery remains weak. Call in now for a live exchange rate to avoid losing out. 

In the euro zone, the euro slid by 0.6% against sterling as investors looked to the relatively safer haven of sterling on the negative comments. Germany’s finance minister Wolfgang Schaeuble stated that Sunday’s summit of European leaders will not deliver a definitive solution to the region’s debt problems. Out later today there is German economic sentiment data that is a key measure of confidence in the region. Call in now for a live exchange rate.

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