Call Free Phone Now:0808 163 0102
Outside the UK: +(44) 207 898 0541 Request a Call Back
 
  Daily Currency News Euro US Dollar Educational Articles  
 
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 in the month that saw sterling fall to a 14 month low against the US dollar. Key to the negative outlook for sterling is the fact that the price inflation is linked to commodity prices, not increased economic activity. Call in now for a live exchange rate. 

It was a busy day in the euro zone, with German investor sentiment falling to the lowest level for 3 years. In addition, credit rating agency Moody’s warned that it may put a negative outlook on France’s Aaa credit rating in the next 3 months if the costs for bailing out banks stretch the country’s budget too much. There were also concerns over the supposed comprehensive plan to solve the sovereign debt crisis which is to be announced on Sunday. Call in now for a live exchange rate.

For individual requirements, visit the SmartCurrencyExchange.com website and for companies visit the SmartCurrencyBusiness.com website

 

 

Be Sociable, Share!

Comments are closed.

© Copyright 2010 Smart Currency Exchange. All Rights Reserved.
Site by Iniquus