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Posted May 30th, 2012 by Charles Purdy

EURO/GBP Rate & Comments for 30th May 2012

EURO/GBP – 1.2507

Sterling remained fairly range bound yesterday against the majority of currencies; but, weakened off against the US dollar and Japanese yen dropping to a 2.5 month and 3.5 month low respectively. On the data front, the Confederation of British Industry (CBI) survey on the relative level of current sales volume came in much better than expected providing a small respite from the overwhelmingly negative sentiment currently felt in the UK. With little significant data out today other than the monthly change in net lending to individuals, the market will look elsewhere for influence; so, call in now for the latest update and a live quote.

The euro weakened to fresh lows against the US dollar yesterday dropping to the lowest level since July 2010 following the news that the credit rating agency Egan-Jones downgraded Spain for the second time in just two weeks. Furthermore, the announcement that the Bank of Spain governor is to leave his role a month earlier than anticipated following the handling of the publicly bailed out ‘Bankia Bank’ caused jitters in the market. Today, the Italian bench mark 10 year bond auction will give a clear indication of investors sentiment towards the nation and a high yield could cause the euro to weaken further as the fears of contagion become more evident. Moreover, the ECB president is also speaking and should provide some further insight on the state of the Eurozone economy; so, call in now for the latest news and a live quote.

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Posted May 29th, 2012 by Charles Purdy

EURO/GBP Rate & Comments for 29th May 2012

EURO/GBP – 1.2496 Sterling strengthened slightly against the US dollar and Japanese yen yesterday, whilst weakening off against the commodity backed currencies as risk appetite drove the market in the early hours due to the latest news coming from Greece. It was a very quiet day for data across the globe generally yesterday as the  Continue Reading…

Posted May 28th, 2012 by Charles Purdy

EURO/GBP Rate & Comments for 28th May 2012

EURO/GBP – 1.2446 Sterling remained fairly range bound on Friday due to a relatively light day on the data front across the world. The main data out of the UK this week is the Manufacturing Purchasing Managers’ Index (PMI) as well as the bench mark 10 year bond auction. With a bank holiday in much  Continue Reading…

Posted May 25th, 2012 by Charles Purdy

EURO/GBP Rate & Comments for 25th May 2012

EURO/GBP 1.2473 A busy week for the UK saw sterling strengthen against the euro; but, weaken against the US dollar as risk aversion drove the market. Revised GDP data confirmed that the UK is officially in a “double-dip” recession with the latest figure showing a contraction of -0.3%. Retail sales figures were also much worse  Continue Reading…

Posted May 24th, 2012 by Charles Purdy

EURO/GBP Rate & Comments for 24th May 2012

EURO/GBP – 1.2461 Sterling strengthened against the euro and the commodity backed currencies; but, weakened against the US dollar and Japanese yen as risk aversion drove the market. Data released yesterday showed a sharp drop in retail sales figures to -2.3% when only a -0.8% figure was expected. The Bank of England’s policy meeting minutes  Continue Reading…

Posted May 23rd, 2012 by Charles Purdy

EURO/GBP Rate & Comments for 23rd May 2012

EURO/GBP – 1.2414 Sterling came under pressure yesterday; but, recovered in the afternoon as the International Monetary Fund (IMF) said that the UK needs to consider injecting more money into the economy and potentially cutting interest rates to stimulate growth. Furthermore, data released in the UK showed that inflation has fallen to a two-year low,  Continue Reading…

Posted May 22nd, 2012 by Charles Purdy

EURO/GBP Rate & Comments for 22nd May 2012

EURO/GBP – 1.2374 Sterling was fairly range bound yesterday as very little data was released globally; but, weakened to a 2 week low against the euro. Consumer Price Index (CPI) figures released today will show the change in the price of goods and services purchased by consumers and are expected to show a drop from  Continue Reading…

Posted May 21st, 2012 by Charles Purdy

EURO/GBP Rate & Comments for 21st May 2012

EURO/GBP – 1.2372 Sterling strengthened against the commodity backed currencies on Friday; but, weakened off against the majority of others as one of the members of the Monetary Policy Committee suggested that further Quantitative Easing could be required to prop up the UK economy. Revised GDP data this week will show if the UK economy  Continue Reading…

Posted May 18th, 2012 by Charles Purdy

EURO/GBP Rate & Comments for 18th May 2012

EURO/GBP – 1.2451 Sterling hit fresh highs against the euro this week as the markets continued to speculate that Greece could soon leave the euro before weakening off against the majority of currencies yesterday. The Bank of England inflation report revealed a downgrade of its growth forecasts for the UK economy largely due to the  Continue Reading…

Posted May 17th, 2012 by Charles Purdy

EURO/GBP Rate & Comments for 17th May 2012

EURO/GBP – 1.2491 Sterling suffered a setback as the Bank of England cut its growth forecasts and noted that events in the Euro zone increased risk of the UK economic recovery faltering. Not a surprise given events in the southern states of the euro zone and our dependency on the Euro zone as a trading  Continue Reading…

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