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Posted June 1st, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 1st June 2010

EUR/GBP – 1.186

Sterling had a good week last week gaining ground on greater risk appetite in the markets against the US$ and the . Following the bank holiday here in the UK on Monday we have opened up with sterling slightly up on the euro and slightly down on the US$. This week we have UK purchasing managers indices for both manufacturing and services. Both are expected to be similar to last months figures which if met would show the economy continuing to expand. We also have some housing data for mortgages and house prices. It will be interesting to see how the influence if any of the election in early May has on these figures. But we continue to be in very volatile times with exchange rates moving very quickly. That is why it is so important to get in touch now if you have an upcoming requirement.

The euro zone is still trying to find a way out from its problems with government debt. Various governments are now working out how to cut their costs and as such the markets are getting concerned about how this will affect euro zone growth. Today we have unemployment figures for the euro zone which are expected to be at steady at 10% for the whole euro zone. So the euro zone has huge problems and as such we need to be aware that movements in exchange rates will be continue to be erratic and hence the sooner you get in touch the better.

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