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Posted July 12th, 2012 by Charles Purdy

EURO/GBP Rate & Comments for 12th July 2012

EURO/GBP – 1.2648

Steady day for sterling gaining a bit of ground against the euro and holding its own against the US$. No major economic news in the UK to influence matters from this end and it seems to be a case of watching what happens elsewhere especially in the euro zone. At one stage sterling hit its highest level against the euro since October 2008. Call in now to see how sterling is faring today.

The euro continues to suffer as the news out of the Euro zone continues to be mixed. Yields on Spanish government bonds both fell which is positive as further austerity measures were announced. However uncertainty about the detail and timescales of the rescue packages announced at the last EU summit continue to worry the markets. The euro has very few friends. Call in now for the latest update.

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