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Posted July 31st, 2012 by Charles Purdy

EURO/GBP Rate & Comments for 31st July 2012

EURO/GBP – 1.2801

Sterling had a poor day yesterday undermined by the release of a string of weak economic data which included worse than expected CBI realised sales, fewer than anticipated new mortgage approvals and the change in the value of lending to individuals being lower than the market predicted. With very little data out from the UK today, the markets will look elsewhere for influence. So, call in now for the latest news and a live quote.

The euro struggled yesterday following its strong end to last week as economic confidence figures dropped by more than expected in July. Investors are also starting to become nervous that the ECB President may not be able to deliver on his comments last week which alluded to the ECB restarting the bond buying program to drive down sovereign debt yields. Despite this caution, Italy’s benchmark 10 year bond auction yesterday saw its yields fall to 5.96%; but, did not drop by as much as many expected following the ECB Presidents comments last week. Spanish flash GDP was poor and confirmed the country remains in recession; but, the reading did come in at the expected level of -0.4% (it is slightly alarming that Spanish GDP figures are better than the -0.7% in the UK!). German retail sales, Eurozone unemployment data and inflation estimates are all on the agenda today; but, the focus will remain on the ECB press conference on Thursday. Call in now for the latest news and a live quote.

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Posted July 30th, 2012 by Charles Purdy

EURO/GBP Rate & Comments for 30th July 2012

EURO/GBP – 1.2772 Sterling continued to strengthen against the US dollar on Friday; but, remained weak against the euro as risk appetite returned to the market due to the renewed confidence in Europe following the President of the ECB’s comments on Thursday. Manufacturing, construction and services Purchasers Managers Index (PMI) figures are released throughout the  Continue Reading…

Posted July 27th, 2012 by Charles Purdy

EURO/GBP Rate & Comments for 27th July 2012

EURO/GBP 1.2758 A mixed week saw sterling reach fresh 2.5 year highs of €1.2875/1 against the euro before weakening off after global risk appetite increased and appalling UK GDP data was released which saw sterling strengthen by nearly 2.5cents against the US dollar yesterday. The preliminary GDP figures showed that the UK’s economy contracted by  Continue Reading…

Posted July 26th, 2012 by Charles Purdy

EURO/GBP Rate & Comments for 26th July 2012

EURO/GBP – 1.2736 Sterling had an extremely poor day yesterday, losing 1 cent against both the euro and the US dollar whilst weakening off against the majority of other currencies as much worse than expected preliminary GDP data was released. The figures are ominous for the state of the UK’s economy depicting a contraction of  Continue Reading…

Posted July 25th, 2012 by Charles Purdy

EURO/GBP Rate & Comments for 25th July 2012

EURO/GBP – 1.2818 Sterling was fairly strong yesterday despite having a poor start to the day following the release of figures showing that number of new mortgages approved was much lower than anticipated. The main data released today will be the preliminary GDP figures which are expected to show the market contracted by 0.2% extending  Continue Reading…

Posted July 24th, 2012 by Charles Purdy

EURO/GBP Rate & Comments for 24th July 2012

EURO/GBP – 1.2790 Sterling had a poor day yesterday, losing ground against the majority of currencies after hitting fresh highs of €1.2875/£1 against the euro in the morning; but, remained strong against the Australian dollar, New Zealand dollar and South African rand as risk aversion dominated the market. UK 10 year bond yields dropped to  Continue Reading…

Posted July 23rd, 2012 by Charles Purdy

EURO/GBP Rate & Comments for 23rd July 2012

EURO/GBP – 1.2854 Sterling had a mixed day on Friday reaching fresh highs against the euro of €1.2865/£1 but weakened against the US dollar after the bailout of the Spanish banking sector was confirmed during the Euro group meetings. Public sector borrowing figures released on Friday were worse than expected with higher public deficit and  Continue Reading…

Posted July 20th, 2012 by Charles Purdy

EURO/GBP Rate & Comments for 20th July 2012

EURO/GBP 1.2798 Sterling had a strong week against the euro reaching fresh highs of €1.2830/£1 as fears surrounding the Eurozone were once again at the forefront of traders’ minds. A busy week for the UK included the IMF downgrading the UK’s growth forecast in 2012 from 0.8% to 0.2% and the Consumer Price Index (CPI)  Continue Reading…

Posted July 18th, 2012 by Charles Purdy

EURO/GBP Rate & Comments for 18th July 2012

EURO/GBP – 1.2733 Sterling had a relatively weak day as inflation data in the form of the Consumer Price Index (CPI) figures came in lower than expected posting a figure of 2.4%. This provided some respite to consumers, but, created downward pressure on the pound as it underlines the sentiment that the UK economy is  Continue Reading…

Posted July 17th, 2012 by Charles Purdy

EURO/GBP Rate & Comments for 17th July 2012

EURO/GBP – 1.2732 Sterling had a strong day today reaching fresh 3.5 year highs of €1.2765/£1 against the euro whilst performing relatively well against the majority of other currencies despite the IMF downgrading the UK’s growth forecast in 2012 from 0.8% to 0.2%. Inflation data in the form of Consumer Price Index (CPI) figures is  Continue Reading…

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