Call Free Phone Now:0808 163 0102
Outside the UK: +(44) 207 898 0541 Request a Call Back
 
  Daily Currency News Euro US Dollar Educational Articles  
 
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 mortgages in over a year. Figures also showed that monetary supply – or the amount of money in the economy – dropped by 0.2% in August. All of this led investors and analysts to question the UK’s recovery further and saw renewed calls for an additional round of Quantitative Easing from the Bank of England to stimulate the economy. This saw sterling drop to 1.1887/£1 before recovering marginally to end the day above 1.19/£1. Against the US dollar, sterling slipped to a low of $1.5526/£1 despite holding firm above the $1.56/£1 level over the weekend. Out today, there is key public sector borrowing figures which are highly anticipated and will cause sterling movement. Make sure you don’t miss out by speaking to one of the team today.

In the Euro zone, there were no real data releases yesterday but there was positive news from Italy. The Italian trade deficit of 1.37bn showed a surplus of 1.75bn for last month. There were concerns last week over the debt crisis in Europe, as rumours spread that Ireland was seeking help from the International Monetary Fund (IMF). The Irish government quickly denied these rumours but the euro lost nearly a cent against the US dollar. Yesterday however, the euro recovered ground against the US dollar as markets grew concerned that the Federal Reserve would start a fresh round of emergency stimulus. Speak to one of the team today to prevent your payment costing more.

Exchange rates change every second – call Smart Currency Exchange for a live up-to-the-minute quote. For individual requirements, visit the SmartCurrencyExchange.com website and for companies visit the SmartCurrencyBusiness.com website.

Leave a Reply

Posted June 29th, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 29th June 2010 EUR/GBP – 1.231 Sterling had a strong day yesterday, climbing to a 1 ½ year high against the euro and a 7 week high against the US dollar. The pound jumped to 1.2250/ £1 and $1.5104/ £1 as the UK currency continued to benefit from last week’s  Continue Reading…

© Copyright 2010 Smart Currency Exchange. All Rights Reserved.
Site by Iniquus