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Posted February 29th, 2012 by Charles Purdy

EURO/GBP Rate & Comments for 29th February 2012

EURO/GBP – 1.1829

An okay day for sterling yesterday holding its own or even gaining against some currencies. The UK Confederation of British Industry (CBI) figures showed that the level of consumer spending in the UK was much better than predicted climbing to an eight month high. Out today the main UK release is the Inflation Report and one of the members of the Bank of England is also speaking. Call in now for the latest update and the latest news.

In Europe yesterday, the German Preliminary Consumer Price Index CPI figures released were better than expected and data revealed that the general economic confidence in the Euro zone has improved more than markets had anticipated. In other news, Ireland has decided to hold a referendum on whether or not to sign the European Fiscal Treaty which will enforce tighter budget rules for Ireland and the other Euro zone nations. It would appear that the vote is effectively a decision whether or not to stay in the euro. The main news out of Europe today will be the result of the parliamentary elections in both Finland and the Netherlands. Call in now for the latest update and the latest news.


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Posted February 28th, 2012 by Charles Purdy

EURO/GBP Rate & Comments for 28th February 2012

EURO/GBP – 1.1803 There was very little data out of the UK yesterday with sterling weakening against the commodity backed currencies as risk appetite drove the market and holding its own against the euro and the US$. The only significant data released today is the Confederation of British Industry (CBI) figures which will provide some  Continue Reading…

Posted February 27th, 2012 by Charles Purdy

EURO/GBP Rate & Comments for 27th February 2012

EURO/GBP – 1.1801 Revised GDP data released on Friday confirmed that the UK economy shrank in the fourth quarter of 2012 underlining the sentiment that the road to recovery will be slow. The market expectation is that we will see slight growth next quarter meaning the UK will avoid a technical recession; however, there is  Continue Reading…

Posted February 24th, 2012 by Charles Purdy

EURO/GBP Rate & Comments for 24th February 2012

EURO/GBP – 1.1764 This week has seen sterling weaken against the majority of currencies amid concerns that we could see further quantitative easing above the £50 billion announced at the start of February. The Bank of England’s minutes released this week showed that two of its members voted for the injection of £75 billion. On  Continue Reading…

Posted February 23rd, 2012 by Charles Purdy

EURO/GBP Rate & Comments for 23rd February 2012

EURO/GBP – 1.1817 Sterling had a torrid day losing ground against the majority of currencies following the release of the Bank of England monetary policy committee meeting minutes. Sterling ended the day at a 2 month low against the euro and lost over a cent and a half against the dollar. The Bank of England’s  Continue Reading…

Posted February 22nd, 2012 by Charles Purdy

EURO/GBP Rate & Comments for 22nd February 2012

EURO/GBP – 1.1914 Yesterday, the markets sought to digest the news that the €130 billion bailout for Greece had finally been signed. The deal which was confirmed early on Tuesday morning resulted in a fairly volatile day with sterling finishing the day weaker against the euro. The UK’s public sector net borrowing figures came in  Continue Reading…

Posted February 21st, 2012 by Charles Purdy

EUR/GBP Rate & Comments for 21st February 2012

EURO/GBP – 1.1965 There was very little data released yesterday with the US banks closed in observance of Presidents Day. The markets were jittery in anticipation of the release of positive news regarding Greece which drove sterling weaker against the euro. The main data out of the UK today is the release of Public Sector  Continue Reading…

Posted February 20th, 2012 by Charles Purdy

EUR/GBP Rate & Comments for 20th February 2012

EURO/GBP – 1.2015 On Friday, retail sales figures were released in the UK with the data coming in much better than expected. There is very little economic data released across the World today plus there is a bank holiday in the US. Therefore the focus will be firmly on the EU finance meeting in Brussels  Continue Reading…

Posted February 17th, 2012 by Charles Purdy

EUR/GBP Rate & Comments for 17th February 2012

EURO/GBP – 1.2026 This week saw sterling strengthen against the euro due to the uncertainty surrounding the Greek bailout package being approved in time before default day on March 20. The Confederation of British Industry was positive about the UK forecasting that the UK will avoid a recession and that the recovery will gain momentum  Continue Reading…

Posted February 16th, 2012 by Charles Purdy

EUR/GBP Rate & Comments for 16th February 2012

EURO/GBP – 1.2040 Sterling reached its highest price in a week against the euro amid on-going concerns over the Greek bailout. Here in the UK unemployment increased by 48,000 between October and December to 2.67million which was in line with expectations. The number of people claiming jobseeker’s allowance also rose by 6,900 to 1.6 million,  Continue Reading…

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