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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 3.5% to 3.1%. Furthermore, the Bank of England’s inflation letter that follows will provide further insight into the potential for more quantitative easing in the near term. Other data to be released includes the Public Sector Net Borrowing figures which show the difference in value between spending and income for public corporations, the central government, and local governments during the previous month. Call in now for the latest news and a live quote.

The euro trended weaker again yesterday as fears surrounding the future of Greece continued to dominate the minds of traders. The Spanish finance minister suggested that Spanish GDP figures in Q2 would show another contraction underlining the poor state of the economy. Consumer confidence is the main release in what is a light data for data in Europe. As per usual, the Spanish banks solvency troubles and the Greece situation will be centre stage in the financial world tomorrow as investors look to see if any sudden developments may occur. Call in now the latest news and a live quote.

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