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Posted March 29th, 2012 by Charles Purdy

EURO/GBP Rate & Comments for 29th March 2012

EURO/GBP - 1.1935

Sterling had a poor day yesterday weakening off against the majority of currencies as the fourth quarter GDP figures for 2011 were unexpectedly revised down to -0.3%; furthermore, annual GDP figures were also revised down to 0.5%. Data released yesterday showed that the UK’s disposable income has now dropped to -1.2% meaning consumers have to tighten their belts even more to maintain their living. This negativity drove sterling to a two week low against the euro. House price data and figures depicting the net lending to individuals is released today which will go some way to indicate the state of the UK’s economy so call in now for the latest update and a live quote.

The euro had a mixed day yesterday as rumours suggested that the Eurozone countries might try to increases the bailout fund sooner rather than expected which would create greater certainty in the region. German unemployment figures is the main data on the agenda today, the markets will looks for signs that the labour market could potentially lead the Eurozone recovery as it has in the US. Call in now for the latest update and the latest news.

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