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Posted June 25th, 2013 by Charles Purdy

Sterling stronger against the euro | Smart Daily Currency Note

GBP/EUR – 1.1758

Sterling had a good day yesterday even though there was an absence of data released across the global markets. With strong retail sales figures last week there are encouraging signs for the British economy and sterling recovered from session lows to stem the its decline against the US dollar. Mortgage approval data today will shed some light on demand in the housing sector whilst Bank of England officials testifying on inflation could affect the markets early on. Moreover, with revised first quarter growth figures due on Thursday sterling prices could experience increased volatility as the week goes on, especially if there is a big revision from the original estimate . Call in now for the latest updates.

The euro was fairly flat yesterday, with no movement either way against the US dollar, and losing half a cent to a better performing sterling as a survey of Business Climate in Germany underwhelmed the markets. Today is even quieter on the news front than yesterday, but we can still expect to see volatility as the euro remains susceptible to releases from around the world. Increasing concerns that Germany – Europe’s powerhouse – is struggling to return to a state of growth will affect the euro’s relative price as the week progresses due to the substantial amount of key data released throughout the remainder of the week. Call in today for the latest news and rates for the euro.

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