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Posted December 12th, 2012 by Charles Purdy

Smart Currency Rates and Comments 12th December 2012 – Risk appetite increases which supports the euro

GBP/EUR – 1.2376

Sterling had a mixed day yesterday, weakening off against the euro and the higher yielding currencies and strengthening against the US dollar and Japanese yen as risk appetite drove the market. Unemployment data  will be the main news on the agenda in the UK today, with both the rate of unemployment and figures showing the change in the number of people claiming unemployment benefits being released. Get in touch now for the most up to date news and rate.

The euro continued to rally yesterday as German economic sentiment data was markedly better than expected pushing to 1.30 against the US dollar. Strong results from a Spanish bond auction also helped support the euro despite hints that the Spanish were not far away from requesting a bailout. Analysts are citing continued monetary easing in the USA as limiting the fallout to recent Spanish and Italian news. With little data out today, the focus will be on a meeting between finance ministers in Brussels, looking ahead to Thursday’s economic summit. Get in touch now for the latest news and rates.

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Posted December 11th, 2012 by Charles Purdy

Smart Currency Rates and Comments 11th December 2012 – A steady day for sterling

GBP/EUR – 1.2414 After the excitement of late last week, sterling traded in a fairly narrow range yesterday. Against the euro it peaked at  1.244 and against the US dollar at 1.609 before giving back some of these gains in the latter part of the day. Data released showed that full-time hiring had reached a  Continue Reading…

Posted December 10th, 2012 by Charles Purdy

Smart Currency Rates and Comments 10th December 2012 – The euro loses it’s glow

GBP/EUR – 1.2412 Sterling continued to lose ground against the US dollar on Friday dropping to 1.60; but, traded in a relatively narrow range against the majority of currencies. Rumours continue to build that the UK will soon lose its gold plated AAA rating; however, a lot of economists are suggesting this is already priced  Continue Reading…

Posted December 7th, 2012 by Charles Purdy

Smart Currency Rates and Comments 7th December 2012 – Surprise talk of interest rate cuts for the euro

This week GBP/EUR – 1.2397 (Last week) (GBP/EUR – 1.2328) Having struggled last week, sterling remained fairly steady throughout this week and enjoyed a rally against the euro as the European Central Bank (ECB) raised the possibility of interest rate cuts in the Eurozone . A series of UK Purchase Manager Index (PMI) data released  Continue Reading…

Posted December 6th, 2012 by Charles Purdy

Smart Currency Rates and Comments 6th December 2012 – Chancellor speaks, sterling steady

GBP/EUR – 1.2320 Sterling’s relatively steady performance yesterday may have come as a surprise to many, as the much anticipated Autumn statement highlighted just how fragile the UK economy still is. With the statement preceded by much weaker than expected Services Purchase Manager Index (PMI ) data – a figure of 50.2 suggests the sector  Continue Reading…

Posted December 5th, 2012 by Charles Purdy

Smart Currency Rates and Comments 5th December 2012 – Sterling below 1.23 interbank against the euro

GBP/EUR – 1.2272 A very busy week of data releases and public announcements for the UK and the rest of the world continues today with the Chancellors Autumn Statement. Sterling struggled yesterday as the Construction Purchase Manager Index (PMI) data was surprisingly low showing the industry had contracted when a mild expansion had been predicted.  Continue Reading…

Posted December 4th, 2012 by Charles Purdy

Smart Currency Rates and Comments 4th December 2012 – Positive news supports the euro

GBP/EUR – 1.2322 Yesterday was a strong day in general for sterling apart from holding steady against the euro, gaining ground against the majority of its major trading peers and reaching a one month high of 1.61 against the US dollar. Manufacturing Purchase Manager Index (PMI) data came out better than forecast – although it  Continue Reading…

Posted December 3rd, 2012 by Charles Purdy

Smart Currency Rates and Comments 3rd December 2012 – The euro continues to strengthen

GBP/EUR – 1.2303 The euro is in the ascendancy having gained five cents against sterling and seven cents against the US dollar since July. On Friday, sterling struggled across the board, hitting a 5 week low against the euro as optimism over the debt crisis in Greece drove the euro upwards. Furthermore, renewed confidence over  Continue Reading…

Posted November 30th, 2012 by Charles Purdy

Smart Currency Rates and Comments 30th November 2012 – Euro getting stronger, call Smart to get the latest news

This week                 (Last week) GBP/EUR – 1.2328    (GBP/EUR – 1.2362 ) Increased risk appetite seems to have driven the market over the last 24 hours as we have seen sterling weaken towards 1.23 against the euro and push over 1.60 against the US dollar. Over the course of the week, sterling has some ups and  Continue Reading…

Posted November 29th, 2012 by Charles Purdy

Smart Currency Rates and Comments 29th November 2012 – Sterling in the doldrums

GBP/EUR – 1.2361 Sterling struggled yesterday against the higher yielding currencies whilst staying relatively range bound against the US dollar and the euro.  Yesterday, one of the members of the Bank of England suggested that the central bank had not ruled out an increase in quantitative easing if it was necessary to boost the UK’s  Continue Reading…

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