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Posted December 14th, 2011 by Charles Purdy

EUR/GBP Rate & Comments for 14th December 2011

EURO/GBP - 1.1895

Sterling hit a fresh 9 month high against the euro yesterday, touching €1.1880/£1 after comments by Angela Merkel unsettled investors already disappointed by the outcome of last week’s EU summit. Traders sold the euro after the German Chancellor made comments that rejected raising the funding limit of Europe’s bailout fund in future. Sterling has made gains as investors move funds from euros into the relative safety of UK government bonds. Many investment banks have been scrambling to amend their sterling/ euro forecasts with many calling for the pound to be nearer to €1.25/£1 in the next few months. Be aware that sterling started 2011 well, jumping above €1.20/£1 but soon dropped to €1.10/£1 so if it does move, be prepared to take advantage to prevent it moving against you.

In the euro zone, with the EU summit falling short of any concrete commitments that would see the ECB issuing ‘eurobonds’ and credit rating agency S&P putting all 27 EU countries on review for a rating downgrade, it is no surprise that Angela Merkel’s comments caused a euro sell-off. Rating agency Fitch also said that a lack of a comprehensive solution to the crisis had put pressure on its own ratings of European states. Despite UK inflation data dropping back below 5%, the euro continued to fall throughout the day. Call in now for a live exchange rate.

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Posted December 13th, 2011 by Charles Purdy

EUR/GBP Rate & Comments for 13th December 2011

EURO/GBP - 1.1821 Sterling surged against the euro yesterday after investor concerns over the EU summit saw sterling jump above €1.18/£1 for the first time since February as investors shed the single currency. The single currency shed 1% against a stronger pound after Friday’s EU summit failed to restore confidence that policymakers could reach a solution.  Continue Reading…

Posted December 9th, 2011 by Charles Purdy

EUR/GBP Rate & Comments for 9th December 2011

EURO/GBP – 1.1730  Sterling hit a one month high against the euro yesterday and was set to make further gains after investors sold the euro on concerns that the ECB had not taken more drastic action to solve the euro zone crisis. Whilst the Bank of England made no further changes to monetary policy this  Continue Reading…

Posted December 8th, 2011 by Charles Purdy

EUR/GBP Rate & Comments for 8th December 2011

EURO/GBP - 1.1701 Sterling hit a one month high against the euro yesterday of €1.1748/£1, coming close to the highest level since March after a German official played down market expectations of a comprehensive solution to the euro crisis being announced on Friday. Weak industrial data for the UK was largely ignored as the focus intensifies  Continue Reading…

Posted December 7th, 2011 by Charles Purdy

EUR/GBP Rate & Comments for 7th December 2011

EURO/GBP - 1.1624 Sterling fell against the US dollar yesterday as it followed the euro downwards after credit rating agency S&P put 15 out of the 17 euro zone countries on notice for a potential credit rating downgrade. Poor retail sales figures and housing surveys contrasted with stronger than expected industrial data from Germany, highlighting the  Continue Reading…

Posted December 6th, 2011 by Charles Purdy

EUR/GBP Rate & Comments for 6th December 2011

EURO/GBP - 1.1681 Sterling strengthened against the US dollar yesterday after an agreement between France and Germany on proposals to help the euro zone crisis helped give a boost to the perceived ‘riskier’ currencies. In addition sterling was given a boost by stronger data in the form of services sector activity that defied expectations to show  Continue Reading…

Posted December 5th, 2011 by Charles Purdy

EUR/GBP Rate & Comments for 5th December 2011

EURO/GBP - 1.1632 Sterling dropped off against the euro on Friday afternoon after better than expected employment figures in the USA gave a boost to risk appetite globally and contrasted with the gloomy economic outlook in the UK. Sterling held its ground against the euro but did look vulnerable given the weakening outlook in the UK.  Continue Reading…

Posted December 2nd, 2011 by Charles Purdy

EUR/GBP Rate & Comments for 2nd December 2011

EURO/GBP 1.1641 Sterling strengthened against a weaker US dollar yesterday after risk appetite improved following good demand at a Spanish bond auction. Sterling slipped from earlier highs against the euro after poor manufacturing figures showed that the sector had contracted for a second month in a row. Whilst there is improved risk appetite, sterling could  Continue Reading…

Posted December 1st, 2011 by Charles Purdy

EUR/GBP Rate & Comments for 1st December 2011

EURO/GBP - 1.1638 Sterling jumped by 0.8% against the US dollar yesterday after co-ordinated emergency action by several central banks saw risk appetite jump and investors return to riskier assets. The Federal Reserve, European Central Bank, Bank of England and central banks of Canada, Japan and Switzerland agreed to cut the cost of US dollar swaps  Continue Reading…

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