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Posted October 31st, 2012 by Charles Purdy

GBP/EUR Rates and Comments for 31st October 2012 – The storm abates in the US, what about the Euro zone?

GBP/EUR – 1.2398

Sterling strengthened against the dollar for the first time in three days yesterday as retail sales figures supported the positive GDP data from last week indicating the UK is emerging from recession. Bond yields also fell, an indication that traders no longer fear intervention from the Bank of England, an indication that suggests the pound could see further gains. There is very little data out of the UK today. However, the Deputy Governor of the Bank of England speaks this evening so we could see markets react positively to any indication that he is against further intervention. Please call in for the latest rates and to discuss your requirements with your trader.

The euro made fairly positive gains yesterday following the news that Spain’s GDP had contracted by less than expected. Falling bond yields at the Italian 10-year bond auction also helped boost the euro as it represents lower borrowing costs and a reducing need for an Italian bailout. The Greek President announced yesterday that internal negotiations that were in line with the strict measures that the so called Troika (the European Commission, the European Central Bank and the International Monetary Fund) had now been completed to secure additional bailout funds. If this is true and Parliament ratifies the budget, then in theory Greece will not be leaving the Eurozone; however, we will have to await the official Troika report on Greece. Out today we have inflation data and the rate of unemployment across Europe; furthermore, we also have German retail sales figures and the benchmark 10-year French bond auction. So we could be in for a volatile day for the euro so please call in now for the latest news and changes in the euro rate.

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Posted October 30th, 2012 by Charles Purdy

GBP/EUR Rates and Comments for 30th October 2012 – Currencies are in the eye of the storm, waiting for direction

GBP/EUR – 1.2401 Sterling struggled yesterday following comments from the Bank of England’s chief economist who suggested that the UK’s fourth quarter GDP figures would be significantly lower than the previous quarter, citing the Olympics as the leading factor in the third quarter’s positive release. The UK Consumer Price Index (CPI) inflation data will be  Continue Reading…

Posted October 29th, 2012 by Charles Purdy

GBP/EUR Rates and Comments for 29th October 2012 – Finally some good news for sterling

GBP/EUR – 1.2444 After the gains made on Thursday, sterling remained fairly range bound on Friday, although it did drop below the key support level of 1.61 against the US dollar in reaction to the strong GDP data coming from the United States. Expect nervousness this week as the world gears up for a potential  Continue Reading…

Posted October 26th, 2012 by Charles Purdy

GBP/EUR Rates and Comments for 26th October 2012 – Finally some good news for sterling

GBP/EUR – 1.2452 Sterling started the week poorly dropping to a six month low of 1.2245 against the euro and one and a half month low of 1.5905 against the US dollar before rebounding strongly yesterday after better than expected third quarter GDP figures were released. The GDP data came in well above market expectations  Continue Reading…

Posted October 25th, 2012 by Charles Purdy

GBP/EUR Rates and Comments for 25th October 2012 – A positive day for sterling on Wednesday, what does Thursday hold?

GBP/EUR – 1.2363 Sterling was one of the stand out performers yesterday, making good gains across the board as markets bet on positive GDP data being released today. Furthermore, sterling was buoyed by the comments made by the Governor of the Bank of England on Tuesday night who seemed to indicate that he would hold  Continue Reading…

Posted October 24th, 2012 by Charles Purdy

GBP/EUR Rates and Comments for 24th October 2012 – A better day for sterling against the euro – but will it last?

GBP/EUR – 1.2304 Sterling had a mixed day yesterday, strengthening against a range of currencies due to its status as a safer haven than the “riskier” high yielding currencies; but, weakened off against the more traditional safe haven assets of the US dollar and Japanese yen. Sterling’s drop against the US dollar took it down  Continue Reading…

Posted October 23rd, 2012 by Charles Purdy

GBP/EUR Rates and Comments for 23rd October 2012 – Is sterling heading for 1.20 against the euro?

GBP/EUR – 1.2272 Sterling dropped to a six month low of 1.2245 against the euro yesterday with increasing confidence in the Eurozone following the regional Spanish elections. Against the US dollar sterling strengthened in the morning only to weaken off in the afternoon. Data showing the number of new UK mortgage approvals in the last  Continue Reading…

Posted October 22nd, 2012 by Charles Purdy

GBP/EUR Rates and Comments for 22nd October 2012 – A busy week ahead for the euro

GBP/EUR – 1.2276 Sterling had a mixed day on Friday dropping at one stage below 1.60 against the US dollar. Against the euro it has stayed relatively range but did reach a four month low of 1.2270 in the early hours of the morning and the euro continues to be in the ascendancy. Public Sector  Continue Reading…

Posted October 19th, 2012 by Charles Purdy

GBP/EUR Rates and Comments for 19th October 2012 – Euro reaches fresh highs against sterling and the US dollar

GBP/EUR – 1.2278 Sterling struggled against the majority of currencies this week and in particularly against the euro dropping to a four month low of 1.2275. It did reach 1.6175 against the US dollar as risk appetite drove the market but these gains have since been reversed. Inflation has reached its lowest level for almost  Continue Reading…

Posted October 18th, 2012 by Charles Purdy

GBP/EUR Rates and Comments for 18th October 2012 – Sterling slips to 1.2285 against the euro

GBP/EUR – 1.2304 Sterling struggled yesterday, dropping to 1.2285 against the euro in the early hours of Wednesday morning due to the euro’s increasing strength amidst rumours of an impending Spanish bailout and Moody’s (one of the big three credit rating agencies) confirmed Spain would keep its investment grade credit rating. Whilst sterling struggled due  Continue Reading…

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