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Posted June 14th, 2012 by Charles Purdy

EURO/GBP Rate & Comments for 14th June 2012

EURO/GBP – 1.2314

Sterling had a poor day weakening off against the majority of currencies; but, remaining fairly flat against the US dollar. There is very little data released in the UK today; but, the Governor of the Bank of England who is speaking in the evening will provide some more insight as to the state of the UK economy. Call in now for the latest news and a live quote.

The euro was fairly stable yesterday and made gains against both sterling and the US dollar. The leader of the Greek Syriza party (the biggest ‘anti-bailout’ party) pledged to keep Greece in the euro yesterday; but, wants to renegotiate the bailout deal with the EU and the IMF. However, the bailout package is deemed to be non-negotiable; so, we will have to see what exactly this means going forward. Spanish bond yields remain high and an Italian 1 year bond auction saw its yields jump by 1.5% underlining investors’ concern in the region and for those counties in particular. Today we have an Italian bond auction of longer dated bonds and any significant increase in interest demanded by investors could be negative for sterling. Europe wide inflation data is the main release on the agenda today; but, the focus will remain on the run up to the Greek election on Sunday and any development that may occur in Spain and Italy. Call in now for the latest news and a live quote.

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Posted June 13th, 2012 by Charles Purdy

EURO/GBP Rate & Comments for 13th June 2012

EURO/GBP – 1.2418 Sterling strengthened by 1 cent against the euro and the US dollar yesterday as the National Institute of Economic and Social Research (NIESR) GDP estimate’s suggested that the UK saw a slight growth of 0.1% in the last 3 months. Unfortunately, the NIESR figures are only estimates and the UK is still  Continue Reading…

Posted June 12th, 2012 by Charles Purdy

EURO/GBP Rate & Comments for 12th June 2012

EURO/GBP – 1.2392 Sterling started the day weak against the euro following the bailout of the Spanish banks over the weekend; but, strengthened throughout the day ending above the 1.24 mark. The main release on the global economic agenda today is the UK’s monthly manufacturing production figures which have caused volatility in the past due  Continue Reading…

Posted June 11th, 2012 by Charles Purdy

EURO/GBP Rate & Comments for 11th June 2012

EURO/GBP – 1.2306 The bailout of Spanish banks over the weekend to the tune of €100bn led to the sterling opening half a cent weaker against the euro and nearly one cent stronger against the US$. This contrasts with Friday where sterling remained fairly stable against the euro, but, weakened against the US dollar as  Continue Reading…

Posted June 8th, 2012 by Charles Purdy

EURO/GBP Rate & Comments for 8th June 2012

EURO/GBP 1.2367 Sterling had a fairly mixed week with significant and rapid movements during the course of a day. The Bank of England decided to keep the base interest rate and the asset purchase facility on hold despite the call from the International Monetary Fund (IMF) for more monetary easing. Investors will wait to see  Continue Reading…

Posted June 7th, 2012 by Charles Purdy

EURO/GBP Rate & Comments for 7th June 2012

EURO/GBP – 1.2302 Sterling had a fairly mixed day, weakening off against the commodity backed currencies;, but, strengthening against the safe havens such as the US$ as risk appetite returned to the market. The Construction Purchasing Managers’ Index (PMI) came in as expected yesterday. Today we have the Services PMI figures released and the June  Continue Reading…

Posted June 6th, 2012 by Charles Purdy

EURO/GBP Rate & Comments for 6th June 2012

EURO/GBP – 1.2362 On Friday, sterling weakened against the majority of currencies and in particular against the euro as the Manufacturing Purchasing Managers’ Index (PMI) came out worse than expected reinforcing the negative sentiment currently felt towards the UK’s economy. After the double bank holiday in the UK when no significant data was released, the  Continue Reading…

Posted June 1st, 2012 by Charles Purdy

EURO/GBP Rate & Comments for 1st June 2012

EURO/GBP 1.2432 Please note; due to the bank holidays in the UK on Monday 4th and Tuesday 5th of June next week, Smart Currency Exchange and Smart Currency Business will not be open for trade. Business will resume as normal on Wednesday 6th. Sterling had a fairly poor week weakening against the US dollar to  Continue Reading…

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