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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 days gaining against sterling and the US$. Market opinion is that this is more on investors covering their short positions on the euro rather than any fundamental change in the euro’s fundamentals. This seems sensible as the euro zone still needs to agree the Greek bailout and find a solution to other euro zone countries debt problems.

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