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Posted December 10th, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 10th December 2010

EURO/GBP1.1941

Sterling slipped against the US dollar yesterday after worries over the single currency and euro zone debt crisis brought the pound down against a stronger US dollar. There was no reaction from sterling prices as the Bank of England kept interest rates and monetary policy on hold. Whilst this was widely expected, it was a credit rating downgrade in Ireland that dented sterling. Rating agency Fitch downgraded the credit rating of Ireland after they recently secured an 85bn euro bailout. The UK economy relies heavily upon the euro zone as a trading partner and as a result, issues in the region can impact prospects for the UK recovery. Sterling was not helped by details that showed that house prices fell 0.1% in the last month. Out later today, there is production data which could have a significant effect on sterling pricing.
 
In the Euro zone, the euro fell against the US dollar yesterday following the rating downgrade and also on the news that one of the Irish political parties would vote against the emergency European bailout for the country. Euro fell by around 0.5% against the US dollar to hit a low of $1.3169/€1 on the day. In terms of data there was nothing of note – today sees French and Italian industrial production figures so get in touch for a live exchange rate.

 

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Posted December 9th, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 9th December 2010

EURO/GBP – 1.1892 Sterling hit a 2 week high against the US dollar yesterday after industrial order data showed that the UK recovery is gaining momentum. Sterling also saw some strength against the euro as concerns over the European debt crisis continued to blight the single currency. Sterling hit a high of $1.5834/£1 and closed  Continue Reading…

Posted December 6th, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 6th December 2010

EURO/GBP – 1.1802 Sterling rose against the US dollar on Friday afternoon after poor US employment figures saw the US currency weaken across the board. There were some concerns amongst investors over the UK banking sector’s exposure to the euro zone, but this is likely to be more of a story in the New Year.  Continue Reading…

Posted November 26th, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 26th November 2010

EURO/GBP – 1.1840 Sterling was undermined by comments from the Bank of England governor Mervyn King, who said “strong action” against inflation could destabilise the economy.  Sterling continues to follow trends from events in the Eurozone as it reversed gains against the Euro following comments by ECB member, Axel Aeber who indicated that Europe’s rescue  Continue Reading…

Posted September 21st, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 21st September 2010

EUR/GBP Rate & Comments for 21st September 2010 EUR/GBP – 1.186 Sterling fell to a 7 week low against the euro yesterday after poor UK data highlighted a slow UK recovery. Data showed that lending to businesses dropped for the 5th consecutive month in July and mortgage approval data showed the lowest number of new  Continue Reading…

Posted August 11th, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 11/08/10

EUR/GBP – 1.210 Sterling fell sharply yesterday against a stronger US dollar, hitting a 1 week low of $1.5750/£1. Weak housing and retail sales data in the UK added to the downward movement for the pound. A house price survey showed that 8% more of estate agents reported that prices had fallen and a retail  Continue Reading…

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