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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.

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Posted September 1st, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 1st September 2010 EUR/GBP – 1.210 Sterling fell across the board on Tuesday as concerns over the global economy sent jitters through financial markets. Sterling dropped to a 5 week low of $1.5327/£1 – breaking through the 200 day ‘moving average’ which means there is likely to be further downward  Continue Reading…

Posted August 24th, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 24th August 2010 EUR/GBP – 1.219 Sterling hit a 2 month high against the euro yesterday reaching 1.2279/£1. This was short lived and this morning we have seen sterling lose ground against both the euro and the US$. Trading volumes in August are traditionally low which means that we can  Continue Reading…

Posted August 23rd, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 23rd August 2010 EUR/GBP – 1.225 Last week was a strong one for sterling against the euro and this trend has continued this morning as it is trading at 1.2260/£1. During this past week, the Bank of England minutes for the month of August showed that the decision to keep  Continue Reading…

Posted August 18th, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 18th August 2010 EUR/GBP – 1.209 Sterling fell yesterday against the US dollar and euro yesterday after inflation data showed a slow down in UK price growth. Sterling hit a high of $1.57/£1 in early trading yesterday before a US bank sold a large amount of sterling, and in thin  Continue Reading…

Posted August 17th, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 17th August 2010 EUR/GBP – 1.216 Sterling reclaimed some of the ground lost against the US dollar last week, rising 0.4% yesterday to hit $1.5665/£1 after risk sentiment improved in trading yesterday. Against the euro, sterling slipped after house price data showed that the housing market had faltered in the  Continue Reading…

Posted August 13th, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 13th August 2010 EUR/GBP – 1.217 It has been a mixed week for sterling which ended the week up against the euro and down against the US dollar as a fresh wave of risk aversion hit global markets. Sterling hit a new 6 month high of $1.5999/ £1 on Monday  Continue Reading…

Posted August 12th, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 12th August 2010 EUR/GBP – 1.215 Sterling dropped by nearly 1% against the US dollar yesterday after the Bank of England’s quarterly inflation report said that inflation would drop below the 2% target level in the next 2 years. In addition the Bank left the door wide open for further  Continue Reading…

Posted August 10th, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 10th August 2010 EUR/GBP – 1.199 Sterling hit a daily high of $1.5998/£1 but slipped away as the pound yet again struggled to break through the $1.60/£1 barrier. Sterling strengthened as the fallout from Friday’s poor US jobs data continued to hammer the US dollar. With many financial options ready  Continue Reading…

Posted August 9th, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 9th August 2010EUR/GBP – 1.199 Last week was a strong one for sterling – especially against the US dollar where the pound finished up 1.74% on the week. We saw sterling hit a 6 month high of $1.5999/ £1 against the US dollar on Friday after poor US employment data  Continue Reading…

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