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Posted December 23rd, 2011 by Charles Purdy

EUR/GBP Rate & Comments for 23th December 2011

EURO/GBP- 1.1990

Markets are quiet in the build-up to Christmas. Sterling had a steady day against most currencies. Slight revisions to previous growth figures were released but it is future growth that most people are worried about and the uncertainty in the euro zone has a very significant knock-on effect on us. A fall back into recession is thought to be highly likely.

The main event for the euro happened on Wednesday with the ECB’s three year funding for the banking system coming to a close. Near enough €500 billion was lent to the banks, representing an important step in maintaining liquidity as banks pulled in their “lending” to other banks.

We circulated our opening hours yesterday for the holiday season but it is very much business as usual. If for whatever reason you do have difficulty getting through by phone, please use the email if you are a private client and if you are a company. We will get back to you straight away.

All that is left to say is have a wonderful Christmas.


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