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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 interest rates unchanged was not unanimous for a third successive month as Andrew Sentance was once again the lone dissenter, calling for an increase of 25 basis points to 0.75 percent. Sterling was initially well supported after the Bank of England minutes as there was no talk about a further bout of quantitative easing. For this upcoming week broader risk trends will dictate sterling price action as sterling faces a light economic calendar. Call in now for a live exchange rate.

In the Eurozone, the euro finished the week on the slide against sterling which has continued into this morning. This was despite good German data which showed that German manufacturing has enabled the country to return to pre-crisis levels for exports of goods, with renewed demand for German cars and machine tools. There seems to be a feeling that Germany is carrying the rest of Europe on its own with Greek, Portuguese, Irish, Italian and Spanish debt interest rates all rising sharply. Today sees Purchasing Managers Index (PMI) data released today for various member states. PMI data is generally seen as a good barometer for industrial trends. Get in touch now for a quote to ensure that you don’t miss out.

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Posted July 9th, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 9th July 2010 EUR/GBP – 1.195 Sterling fell yesterday against the US dollar and euro as mixed economic data triggered a sell off of sterling positions. Despite hitting a 2 month high of $1.5241/ £1 – the highest since early May – the pound struggled to make ground. This happened  Continue Reading…

Posted July 8th, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 8th July 2010 EUR/GBP – 1.199 Sterling had a good day yesterday, recovering lost ground against the US dollar and euro as a recovery in UK shares on the FTSE stock market helped ease concerns over the fragility of the economy. Data on UK jobs growth was relatively poor and  Continue Reading…

Posted June 24th, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 24th June 2010 EUR/GBP – 1.218 Sterling hit a 6 week high against the US dollar of $1.4999/£1 after sentiment was given a large boost. Firstly, following the emergency budget on Tuesday, credit rating agency Moody’s stated that the UK will retain the AAA credit rating if it successfully implements  Continue Reading…

Posted June 11th, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 11th June 2010 EUR/GBP – 1.213 Sterling rose yesterday driven by a stock market rally and the fact that many investors felt that poor sentiment surrounding the UK’s record deficit had already been ‘priced in’ – i.e. the price takes into account the deficit. The pound rose to a high  Continue Reading…

Posted June 10th, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 10th June 2010 EUR/GBP – 1.210 Sterling recovered yesterday when investors bought back into the pound after analysts stated that the pound had been oversold on Tuesday following comments by credit rating agency Fitch. In the end, the comments made by Fitch added nothing new to what the markets knew  Continue Reading…

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