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Posted January 31st, 2012 by Charles Purdy

EUR/GBP Rate & Comments for 31st January 2012

EURO/GBP - 1.1944

Sterling had a steady day as most of the news was generated elsewhere. The main news was in Europe with the EU summit meeting in Brussels. At one stage sterling hit a one month low against the euro hitting resistance at €1.19/£1. Although risk aversion was heightened there was little significant movement either against the US$ or the commodity backed currencies. Call in now for the latest update and the latest news.

The EU Economic Summit seemed to be a success with progress being made on fiscal unity and stricter budget disciplines. The only country to join the UK on the sidelines was the Czech Republic. One significant step forward was the agreement of a €500 billion European Stability Mechanism which is to come into force in July this year. This is much earlier than expected. The major short term problem for the euro is the on-going talks about Greek debt. Still very slow progress is being made. Default day is the 20th March 2012. Hopefully it will all be resolved well before that. The market view seems to be that any short term strength in the euro will be short lived. Call in now for the latest update and the latest news.

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Posted January 30th, 2012 by Charles Purdy

EUR/GBP Rate & Comments for 30th January 2012

EURO/GBP – 1.1982 Sterling hit a 5 week high against the US dollar on Friday on speculation that agreement would be reached over the weekend in negotiations over Greek debt restructuring. However, as we start the week this has not happened yet. In addition, sterling strengthened on Friday against the euro as a member of  Continue Reading…

Posted January 27th, 2012 by Charles Purdy

EUR/GBP Rate & Comments for 27th January 2012

EURO/GBP – 1.1982 Sterling fell to a four week low against the euro on Thursday as investors became optimistic over progress in Greek debt talks and concerned over UK economic weakness.  UK data from the Confederation of British Industry showed there was a far worse contraction in sales than had been anticipated.  Sterling strengthened against  Continue Reading…

Posted January 26th, 2012 by Charles Purdy

EUR/GBP Rate & Comments for 26th January 2012

EURO/GBP - 1.1948 Sterling regained ground against the euro yesterday after hitting a 4 week low against the currency, however the pound struggled to make many gains as investors became concerned over further economic weakness in the UK. In a speech last night, Bank of England governor Mervyn King hinted at a further round of Quantitative  Continue Reading…

Posted January 25th, 2012 by Charles Purdy

EUR/GBP Rate & Comments for 25th January 2012

EURO/GBP - 1.1948 Sterling regained ground against the euro yesterday after hitting a 4 week low against the currency, however the pound struggled to make many gains as investors became concerned over further economic weakness in the UK. In a speech last night, Bank of England governor Mervyn King hinted at a further round of Quantitative  Continue Reading…

Posted January 24th, 2012 by Charles Purdy

EUR/GBP Rate & Comments for 24th January 2012

EURO/GBP - 1.1954 Nothing major to report. As noted yesterday, Wednesday will be a key day for releases as both the Bank of England release the minutes from their last meeting and the Federal Reserve meet. There is likely to be a lack of direction until this happens.   The euro has had a good few  Continue Reading…

Posted January 23rd, 2012 by Charles Purdy

EUR/GBP Rate & Comments for 23rd January 2012

EURO/GBP - 1.2006 Will be an interesting week for sterling as the minutes of the last Bank of England meeting and economic growth data for the final quarter of 2011 are both released on Wednesday. The market will be very interested to see the BoE views on their programme of quantitative easing. The last increase to  Continue Reading…

Posted January 20th, 2012 by Charles Purdy

EUR/GBP Rate & Comments for 20th January 2012

EURO/GBP – 1.1962  Sterling strengthened against the US dollar yesterday tracking gains by the euro against the US currency after strong demand at a Spanish bond auction saw improved risk appetite. Sterling however dropped below €1.20/£1 against the euro as a survey showed that consumer confidence in the UK fell to the lowest level for  Continue Reading…

Posted January 19th, 2012 by Charles Purdy

EUR/GBP Rate & Comments for 19th January 2012

EURO/GBP - 1.2001 Sterling hit the highest level against the US dollar for a week yesterday on news that the International Monetary Fund looked set to boost lending to support the euro and other riskier currencies. Data showed yesterday that the number of Britons claiming unemployment benefits had risen at a lower rate than expected in  Continue Reading…

Posted January 18th, 2012 by Charles Purdy

EUR/GBP Rate & Comments for 18th January 2012

EURO/GBP - 1.2032 Sterling slipped against the euro yesterday as falling inflation reinforced expectations that the Bank of England would ease monetary policy further in the coming months. UK inflation fell sharply in December with the CPI index dropping from 4.8% to 4.2% backing up the Bank of England’s view that inflation may have peaked. Many  Continue Reading…

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