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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 now expect this to have given a green light to the Bank to open the taps on further Quantitative Easing as early as next month. Many investors are becoming more and more concerned over poor data from the UK despite poor figures largely being ignored in recent weeks as markets look for alternatives to the euro. Out later today we have unemployment claims and average earnings so call in now for a live exchange rate.
In the euro zone, the euro strengthened overnight after strong Chinese data improved risk appetite in the Asian trading session. However, with key talks resuming between Greece and its creditors later today after they broke down earlier in the week, markets are tense. Only a voluntary agreement will suffice or we could be heading towards an imminent Greek default which will cause mayhem. Call in now for a live exchange rate.

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