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Posted December 28th, 2011 by Charles Purdy

EUR/GBP Rate & Comments for 28th December 2011

EURO/GBP – 1.1985

A quiet day on the currency markets yesterday as we enjoyed an extended Christmas break. The City of London is the largest currency market in the world and as such trading elsewhere was fairly muted. There was little movement between the major currencies.

At the end of last week, worries about the UK economy came to the fore and the increased probability of further quantitative easing. It is unlikely the post Christmas retail sales have helped much as it seemed that significant price cuts were needed to convince shoppers to part with their cash.

This week we have the Italian government making a debt issuance. The markets will be watching very closely to see how successful it all is. A poor take up of the debt issuance will be negative for the euro.

We are open for business this week so if you need some help with your currency needs please get in touch. We will be delighted to help.

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