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Posted August 16th, 2012 by Charles Purdy

EURO/GBP Rate & Comments for 16th August 2012

EURO/GBP – 1.2742

Sterling reached the highest price against the euro this month following the news that the change in the number of new people claiming unemployment benefits has dropped by much more than expected with the monthly figures showing 5,900 less people are claiming benefits when an increase by just over 6,000 had been anticipated. Other employment data released showed that the overall unemployment rate had also dropped by 46,000 people in the three months to June. Whilst these unemployment figures make for better reading, it is important to bear in mind the impact the Olympics would have had on employment numbers and GDP figures in the short term. In other news, the Bank of England’s latest meeting minutes revealed that all the members of the Monetary Policy Committee (MPC) voted to keep the asset purchase facility and interest rates on hold which was as expected. Monthly retails sales figures released today will be the main news on the agenda with economists predicting marginal growth at 0.1%. Call in now for the latest rates

The euro had a very poor day yesterday as news was released that the Greek Prime minister would be meeting with the leaders of Germany, France and Luxembourg to try and renegotiate the austerity measures that are currently in place; however, Germany remain steadfast that the package is non-negotiable. It will be another relatively quiet day for data in Europe today, with the main release being the Europe area wide Consumer Price Index (CPI) inflation data. Call in now for the latest news.

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Posted August 15th, 2012 by Charles Purdy

EURO/GBP Rate & Comments for 15th August 2012

    EURO/GBP – 1.2701 We seem to be in the summer doldrums with sterling having a fairly stable day with trading volumes at record lows. Inflation data in the UK headlined by the Consumer Price Index (CPI) showed that inflation had unexpectedly risen by more than anticipated. The Bank of England’s latest meeting minutes  Continue Reading…

Posted August 14th, 2012 by Charles Purdy

EURO/GBP Rate & Comments for 14th August 2012

EURO/GBP – 1.2696 Sterling had a mixed day yesterday strengthening against the commodity backed currencies; but, was weaker versus the euro following data released in Greece and Italy. The main news on the economic agenda today will be the Consumer Price Index (CPI) inflation data which is expected to produce a reading of 2.3%. Call  Continue Reading…

Posted August 13th, 2012 by Charles Purdy

EURO/GBP Rate & Comments for 13th August 2012

EURO/GBP – 1.2748 Sterling had a fairly strong day on Friday despite no significant data being released. The main announcement was the Producer Price Index (PPI) figures which came in as expected. Some of the main events this week will be the release of the Bank of England inflation letter and the Bank of England’s  Continue Reading…

Posted August 10th, 2012 by Charles Purdy

EURO/GBP Rate & Comments for 10th August 2012

EURO/GBP 1.2701 Sterling had a fairly positive week and was particularly strong against the euro and the New Zealand dollar. The excitement surrounding the Olympics in the UK was clear to see; however, the biggest factor driving sterling’s strength was the Governor of the Bank of England’s comments which significantly reduced the probability of an  Continue Reading…

Posted August 9th, 2012 by Charles Purdy

EURO/GBP Rate & Comments for 9th August 2012

EURO/GBP – 1.2652 Sterling had a positive day buoyed primarily by the comments from the Governor of the Bank of England who stated his feeling that cutting the central bank’s interests rates would be more damaging than beneficial; therefore, dramatically reducing the probability of an interest rate cut in the near to medium turn. He  Continue Reading…

Posted August 8th, 2012 by Charles Purdy

EURO/GBP Rate & Comments for 8th August 2012

EURO/GBP – 1.2589 Better than expected industrial and manufacturing data for the UK for June released yesterday helped support sterling. This saw sterling gain nearly a cent against the US dollar and just under half a cent against the euro at the start of the day. During the course of the day we saw some  Continue Reading…

Posted August 7th, 2012 by Charles Purdy

EURO/GBP Rate & Comments for 7th August 2012

EURO/GBP – 1.2574 Another difficult day for sterling. Subdued UK retail sales figures for July didn’t help and although the Olympics are going well on the medals front there are worries as to what this will do to London retail figures for August. However the major influence continues to be news elsewhere. Call in now  Continue Reading…

Posted August 6th, 2012 by Charles Purdy

EURO/GBP Rate & Comments for 6th August 2012

EURO/GBP – 1.2606 Current market conditions continue to be volatile for sterling with rapid movements in either direction. Last week we saw sterling lose ground against the euro as the European Central Bank continued its rhetoric of supporting the euro whatever it takes. This week we have UK industrial production and inflation data out. The  Continue Reading…

Posted August 3rd, 2012 by Charles Purdy

EURO/GBP Rate & Comments for 3rd August 2012

EURO/GBP 1.2724 Over the course of the week sterling has lost ground across the board as worries on the state of the UK economy continue and the possibility of the UK losing its AAA credit rating. But we did see a better day for sterling against the euro as it continued to weaken elsewhere. This  Continue Reading…

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