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Posted March 27th, 2012 by Charles Purdy

EURO/GBP Rate & Comments for 27th March 2012

EURO/GBP - 1.1953

Sterling had a mixed day yesterday, strengthening and weakening against a variety of currencies as the markets shifted from risk appetite to risk aversion. Sterling was particularly strong against the Japanese yen and the US dollar, strengthening by 1.5c against the latter reaching the highest price in more than 3 months. There is very little data out of the UK today except the release of the Confederation of British Industry (CBI) index on the relative level of current sales volumes. Call in now for the latest update and the latest news.

The euro had a mixed day ending fairly flat against the majority of currencies; but, strengthening to a 1 month high against the US dollar. The index representing the business climate in Germany hit an 8 month high yesterday boosting confidence in the region. Furthermore, the ECB President said that he saw signs of economic stabilisation and that the outlook of the Eurozone had improved. The Eurozone will look towards more German data released today as consumer climate figures will give further indication to the state of the region’s largest economy. Despite the ECB Presidents positive words, the Eurozone appears to be extremely fragile so call in now for the latest news and a live quote.

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