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Posted August 31st, 2012 by Charles Purdy

EURO/GBP Rate & Comments for 31st August 2012

EURO/GBP – 1.2612

Sterling stayed fairly range bound this week due to a lack of significant data released in the UK and because trade volumes remain low in the final week of the summer holidays. Overnight, consumer confidence figures were released and first thing this morning data showing the change is house prices was also announced. The summer doldrums have kept the markets relatively quiet this week; but, with so much uncertainty in Europe and the with the annual Jackson Hole symposium taking place in the US there is still the potential for a lot of volatility today. Call in now for the latest rates.

The euro had a fairly strong start to the week as traders’ remain expectant that the European Central Bank will intervene in the government bond markets to drive down borrowing costs. A fairly successful benchmark Italian 10 year bond auction and relatively solid bond auctions in Spain also helped to calm the bond markets. Market concerns were also eased following comments from the Chinese Premier suggesting that the Chinese may buy European bonds. On a more negative note, German business climate sentiment figures came in below market estimates. German retail sales were released first thing this morning and then later on today, year on year inflation estimates and the rate of unemployment in Europe as a whole will also be released. Call in now for the latest news.

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Posted August 30th, 2012 by Charles Purdy

EURO/GBP Rate & Comments for 30th August 2012

EURO/GBP – 1.2612 Sterling had a strong day yesterday making gains against the majority of currencies, and in particular against the Polish zloty, Hungarian forint and Swedish krona despite the lack of any significant data released in the UK. Out today, we have the release of the monthly change in the net lending to individuals  Continue Reading…

Posted August 29th, 2012 by Charles Purdy

EURO/GBP Rate & Comments for 29th August 2012

EURO/GBP – 1.2592 Sterling had a mixed day yesterday weakening off to €1.2570/£1 as the markets continue to bet on the European Central Bank stepping in to stabilise Euro zone government borrowing costs by capping bond yields. With very little data on the UK’s economic agenda today, the expectation would be for volatility to remain  Continue Reading…

Posted August 28th, 2012 by Charles Purdy

EURO/GBP Rate & Comments for 28th August 2012

EURO/GBP – 1.2632 Sterling had a poor day on Friday as revised GDP figures came in as expected showing a marginal improvement from the preliminary figures which were revised from -0.7% to -0.5%. In other news, one of the members of the Bank of England suggested that in the event of further loosening in monetary  Continue Reading…

Posted August 24th, 2012 by Charles Purdy

EURO/GBP Rate & Comments for 24th August 2012

EURO/GBP 1.2628 Please note; due to the bank holiday in the UK on Monday 27th of August next week, Smart Currency Exchange and Smart Currency Business will not be open for trade. Business will resume as normal on Tuesday 28th. Sterling had a mixed week strengthening against the Canadian dollar and most notably against the  Continue Reading…

Posted August 23rd, 2012 by Charles Purdy

EURO/GBP Rate & Comments for 23rd August 2012

EURO/GBP – 1.2657 Sterling had a relatively strong day yesterday despite the lack of any significant data released in the UK, strengthening against the majority of currencies and reaching a 3 month high of 1.59 against the US dollar after the Federal Open Market Committee (FOMC) meeting minutes were released. Another fairly quiet day for  Continue Reading…

Posted August 22nd, 2012 by Charles Purdy

EURO/GBP Rate & Comments for 22nd August 2012

EURO/GBP – 1.2658 Sterling had a mixed day yesterday losing ground against the euro and gaining against the US dollar. Data released showing that the level of public sector borrowing was worse than expected due to a rise in government spending and a fall in tax receipts undermined sterling. Other data released from the Confederation  Continue Reading…

Posted August 21st, 2012 by Charles Purdy

EURO/GBP Rate & Comments for 21st August 2012

EURO/GBP – 1.2709 The summer continues with sterling having a steady day trading in a narrow range against most currencies. There was very little data out other than the monthly statistics from Rightmove which showed that the asking price of homes for sale has dropped. Out today, the main release on the agenda will be  Continue Reading…

Posted August 20th, 2012 by Charles Purdy

EURO/GBP Rate & Comments for 20th August 2012

EURO/GBP – 1.2705 We continue to be in the summer doldrums with sterling having a fairly steady day on Friday with trading volumes remaining relatively low and a lack of any significant data being released. This week, the main release will be the revised GDP figures and market expectations suggest that the preliminary figures of  Continue Reading…

Posted August 17th, 2012 by Charles Purdy

EURO/GBP Rate & Comments for 17th August 2012

This week – (Last week) EURO/GBP 1.2705 – (EURO/GBP 1.2701) Sterling has had a reasonable week reaching monthly highs against the euro and the US dollar. Retail sales figures released yesterday were better than expected with retail sales gaining by 0.3% in July against a prediction of only 0.1% and probably more influentially, June’s figures  Continue Reading…

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