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Posted March 29th, 2012 by Charles Purdy

EURO/GBP Rate & Comments for 28th March 2012

EURO/GBP - 1.1949

Sterling hit a four and a half month high against the US dollar today before losing ground and ending the day where it started. Sterling traded in a similar pattern against the majority of currencies strengthening in the morning before retracing in the late afternoon. One of the members of the Bank of England suggested that the central banks interest rates could be raised sooner than initially anticipated; but, the markets still expect the Bank of England to keep to its wait-and-see approach for quite a time yet. Trade balance figures and the final quarters GDP for 2011 will be released today which provide are a good indicator of the state of the UK’s economy so call in now for the latest update and a live quote.

The euro weakened off against sterling, the US dollar and the Swiss franc yesterday; but strengthened against the majority of commodity backed currencies. A weak Spanish bond auction and poor German consumer climate figures released yesterday did little to boost confidence in the Eurozone. There is not much data release in the Eurozone today as the markets look elsewhere for influence so call in now for the latest update and the latest news.

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