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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 slowing down. The Bank of England’s latest meeting minutes are released today which are expected to show that all 9 members voted for the increase in quantitative easing by £50 billion; but, some economists predict that a few of the members voted for an even larger increase. We will have to wait and see. The change in the number of people claiming unemployment benefits will also be announced; so, call in now for the latest news and a live quote.

The euro started the day fairly strong after a successful Spanish bond auction; but, came under pressure as German business climate sentiment and (ZEW) economic sentiment were both worse than expected. With very little data released across Europe today, the markets will look elsewhere for influence; so, call in now for the latest news and a live quote.

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