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Posted June 20th, 2012 by Charles Purdy

EURO/GBP Rate & Comments for 20th June 2012

EURO/GBP – 1.2393

Sterling had a mixed day yesterday weakening by 0.75 cents against the euro but strengthened against the US dollar and Japanese yen. Much lower than anticipated Consumer Price Index (CPI) inflation data drove sterling weaker in the morning which led to increased speculation that the Bank of England could look to inject more money into the economy in July. The MPC meeting minutes released today will show how close the Bank of England were to increasing quantitative easing in June with the decision expected to be a very close call. Data showing the change in the number of people claiming unemployment benefits is also released today. The MPC meeting minutes have caused a lot of volatility in the past; so, call in now for the latest news and a live quote.

The euro performed well yesterday despite German and Eurozone economic sentiment figures coming in much lower than expected. The euro strengthened as rumours started to circulate that the EU may allow Greece some extra time to meet the targets set to receive the next tranche of its bailout package. Spanish benchmark 10 year bonds yields retraced back below the 7% mark providing some respite to the nation; however, 12 and 18 month bills were sold with yields well above the rate paid in May. With very little data released in Europe today, the markets will look elsewhere for influence whilst still keeping a close eye on any developments in Greece and Spain. Call in now for the latest news and a live quote,

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