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Posted January 17th, 2012 by Charles Purdy

EUR/GBP Rate & Comments for 17th January 2012

EURO/GBP - 1.2040

Sterling fell against the US dollar yesterday, trading within reach of an 18 month low against the US currency as investor concern over euro zone credit rating downgrades impacted on risk appetite and saw safe haven demand for US dollars. Sterling stayed well supported against the euro as issues with European downgrades and concern over a potential Greek default saw investors avoid the single currency. It was a quiet day for data in the UK, with the main focus centring on the fall out from Friday night’s rating downgrades. Out today we have inflation figures that are expected to show prices beginning to fall off. Call in now for a live exchange rate.
 
In the euro zone, the euro floundered near a 17 month low against the US dollar yesterday and an 11 year low against the Japanese yen as Friday’s mass downgrades of ratings across 9 countries threatened the lending ability of the European bailout fund. Talks to renegotiate repayments between Greece and its creditors broke down, leaving a higher and higher risk of a ‘disorderly’ default by the country as opposed to the carefully managed one that had been envisaged. Call in now for a live exchange rate.

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Posted January 16th, 2012 by Charles Purdy

EUR/GBP Rate & Comments for 16th January 2012

EURO/GBP - 1.2064 Sterling fell against the US dollar on Friday as risk appetite dropped on rumours over an imminent mass credit rating downgrade of euro zone countries. Following the Bank of England’s meeting last week analysts now widely expect a fresh round of Quantitative Easing at next month’s meeting. The pound has now taken on  Continue Reading…

Posted January 13th, 2012 by Charles Purdy

EUR/GBP Rate & Comments for 13th January 2012

EURO/GBP – 1.1938  Sterling fell to the lowest level against the euro in 7 weeks after speculation that the Bank of England will expand its Quantitative Easing programme as early as next month. The pound dropped as low as €1.1936/£1 in overnight trading after a better than expected Spanish debt auction and cautiously optimistic comments  Continue Reading…

Posted January 12th, 2012 by Charles Purdy

EUR/GBP Rate & Comments for 12th January 2012

EURO/GBP - 1.2031 Sterling hit a 3 month low against the US dollar following the euro downwards as concerns grew over the euro zone crisis. Sterling dropped by 1% to a low of $1.5308/£1 – the lowest since early October – after risk appetite suffered off the back of comments by credit rating agency Fitch. The  Continue Reading…

Posted January 11th, 2012 by Charles Purdy

EUR/GBP Rate & Comments for 11th January 2012

EURO/GBP – 1.2101 Sterling hovered near a 16 month high against the euro on Tuesday as investor concern that the euro zone crisis will deepen saw sentiment fall towards the single currency. Sterling held on to gains against the US dollar despite a risk of sterling falling against the currency on safe haven demand from  Continue Reading…

Posted January 10th, 2012 by Charles Purdy

EUR/GBP Rate & Comments for 10th January 2012

EURO/GBP – 1.2101 Sterling again traded close to a 16 month high against the euro yesterday with investors concerned over the single currency following further negative news from the euro zone. A german magazine reported that the IMF was losing confidence with Greece’s ability to deal with its astronomic levels of debt. Sterling has been  Continue Reading…

Posted January 6th, 2012 by Charles Purdy

EUR/GBP Rate & Comments for 6th January 2012

EURO/GBP – 1.2118  Sterling rose to the highest level against the euro for 16 months on worries over euro zone government borrowing and as data showed a boost in UK service sector activity. The pound hit €1.2113/£1, the highest since late 2010. The view that the UK economy will outperform the euro zone was given  Continue Reading…

Posted January 5th, 2012 by Charles Purdy

EUR/GBP Rate & Comments for 5th January 2012

EURO/GBP - 1.2054 Sterling climbed to a 15 month high against the euro yesterday after investors sought to diversify further away from the ailing euro and looked for safety in alternative currencies. With the UK economy – despite its weaknesses – looking relatively stronger than the euro zone, investors have been moving funds into UK based  Continue Reading…

Posted January 4th, 2012 by Charles Purdy

EUR/GBP Rate & Comments for 4th January 2012

EURO/GBP - 1.1975 Sterling strengthened marginally against the US dollar yesterday after better than expected data globally helped to improve risk appetite and gave support to the pound. Manufacturing sector activity in the UK improved by more than expected but still showed the sector contracting, pointing to signs of a ‘double-dip’ recession in the coming months.  Continue Reading…

Posted January 3rd, 2012 by Charles Purdy

EUR/GBP Rate & Comments for 3rd January 2012

EURO/GBP - 1.1972 Sterling has started the New Year much where it left off, hovering just under €1.20/£1 against the euro and at $1.5570/£1 against the US dollar. With many currency market traders beginning to return to work after the Christmas break, many expect that volatility will increase again after a relatively quiet week. As we  Continue Reading…

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