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Posted April 17th, 2012 by Charles Purdy

EURO/GBP Rate & Comments for 17th April 2012

EURO/GBP – 1.2115

Sterling reached a new 18 month high against the euro yesterday peaking at 1.2175 before retracing in the afternoon. Against the US dollar sterling started the day fairly flat before strengthening in the afternoon. Consumer Price Index (CPI) figures released today will show investors how the price of goods and services purchased by consumers has changed in the past month. Expectations are for it to be higher than hoped because of the high oil price. Call in now for the latest news and a live quote.

The euro had a very poor start to the day with Spain’s benchmark 10 year bond yield breeching the 6% level yesterday as fear was the main driver in the market in early morning trading. The Eurozone trade balance figures were also significantly worse than the markets had expected. The euro then recovered and staged a rally in the afternoon against most of its major counterparties. Data to be released today will show the sentiment of institutional investors to the Eurozone.  Today and on Thursday we have debt issuances by the Spanish government and the success of these fund raisings will have a major influence on where to next for the euro. Volatility will be high so call in now for a live update and the latest news.

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