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Posted October 17th, 2012 by Charles Purdy

GBP/EUR Rates and Comments for 17th October 2012 – Euro at almost 4 month high against GBP

GBP/EUR – 1.2306

Sterling had a mixed day yesterday and is clearly under pressure against the euro falling to 1.231 this morning. We have seen over the course of the last couple of months sterling lose over five cents against the euro and we are now at a level where we could see sterling weaken to 1.20 fairly quickly. Sterling performed relatively well against the US dollar as risk appetite drove the market. Inflation data out of the UK came out as widely anticipated posting a figure of 2.2% which is the lowest level for almost 3 years which put pressure on sterling’s relative strength. The latest meeting minutes from Monetary Policy Committee (MPC) will be released today and are expected to show that all 9 members voted to keep interest rates and quantitative easing on hold. Labour data will also be released today and will reveal the change in the number of people claiming unemployment benefits during the past month and the overall unemployment rate in the UK and often instigates price action as it is a clear indicator of economic strength, so please call in now for the latest news and rates.

The euro strengthened against the majority of currencies yesterday due to an increase in risk appetite within the market, rising above 1.30 against the US dollar for the first time in a week, whilst pushing close to a four month high against sterling. This shift in the markets attitude to risk was thanks mainly to the combination of improved German economic sentiment and increased speculation of a Spanish bailout. There is very little official data out of Europe today; but, expect the markets to be tentative in advance of Thursday’s EU Economic Summit, where much attention will be given to the increasingly likely Spanish Bailout, so call in now for the latest news and changes in the euro rate.

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Posted October 16th, 2012 by Charles Purdy

GBP/EUR Rates and Comments for 16th October 2012

GBP/EUR – 1.2385 Sterling traded fairly flat yesterday with little data out of the UK to inspire dramatic price action. Housing data released showed that house prices had increased by 3.5% in October; but, this had little effect on sterling’s relative strength. Important inflation data is released today and the Consumer Price Index (CPI) reading  Continue Reading…

Posted October 15th, 2012 by Charles Purdy

GBP/EUR Rates and Comments for 15th October 2012

GBP/EUR – 1.2405 Sterling traded particularly flat against the majority of currencies on Friday due to a lack of any significant data being released.  It is a big week ahead for sterling and the UK in general, with a vast amount of data being released including inflation data which is forecast to be 2.3% ,  Continue Reading…

Posted October 12th, 2012 by Charles Purdy

GBP/EUR Rates and Comments for 12th October 2012

GBP/EUR – 1.2394 Sterling has a mixed day yesterday, struggling against the safe haven currencies but performing fairly well elsewhere including nearly a one cent gain against the euro. The manufacturing industry took another blow as data released showed that production had fallen by 1.2%, a much bigger drop than the 0.7% fall that had  Continue Reading…

Posted October 11th, 2012 by Charles Purdy

Smart Daily Currency Note – 11th October 2012

GBP/EUR – 1.2429 The euro performed slightly better than sterling yesterday; but remained similarly range bound as the whole global foreign exchange market lacked direction. On the data front, the monthly changes in industrial production for France and Italy were much better than expected both showing sharp increases in volume when drops had been anticipated.  Continue Reading…

Posted October 10th, 2012 by Charles Purdy

GBP/EUR Rates and Comments for 10th October 2012

GBP/EUR – 1.2429 Sterling has a mixed day yesterday, struggling against the safe haven currencies but performing fairly well elsewhere including nearly a one cent gain against the euro. The manufacturing industry took another blow as data released showed that production had fallen by 1.2%, a much bigger drop than the 0.7% fall that had  Continue Reading…

Posted October 9th, 2012 by Charles Purdy

GBP/EUR Rates and Comments for 9th October 2012

GBP/EUR – 1.2352 Sterling continues to be under pressure and was one of the worst performing currencies yesterday dropping to 1.2350 against the euro and 1.6025 against the US dollar as the focus remained on developments in Europe. The main release today will be data showing the monthly change in the total value of output  Continue Reading…

Posted October 8th, 2012 by Charles Purdy

GBP/EUR Rates and Comments for 8th October 2012

GBP/EUR – 1.2388 Sterling had a poor day on Friday despite a lack of data being released in the UK, weakening against the euro to a two week low of 1.2380 whilst also weakening against the US dollar. One of the main releases this week will be figures showing the monthly change in the total  Continue Reading…

Posted October 5th, 2012 by Charles Purdy

GBP/EUR Rate & Comments for 5th October 2012

GBP/EUR – 1.2438 Sterling struggled for most of this week due to a raft of poor data being released. Services, manufacturing and construction Purchasers Managers Index (PMI) figures all came out lower than expected with both the manufacturing and construction industries contracting which clearly underlines the weakness in the UK’s economy at present. In other  Continue Reading…

Posted October 3rd, 2012 by Charles Purdy

GBP/EUR Rate & Comments for 3rd October 2012

GBP/EUR – 1.2492 Sterling had a mixed day yesterday, weakening against the euro and other European currencies due to an increase in global risk appetite. Sterling also struggled following worse than expected construction Purchasers Managers Index (PMI) figures being released which indicated that the construction industry was contracting despite markets predicting a neutral release. More  Continue Reading…

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