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Posted August 26th, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 26th August 2010

EUR/GBP – 1.223

Sterling had a fairly quiet day yesterday and remains range bound against the euro and US dollar. With trading volumes still low due to the holiday season any negative surprises could hit confidence in sterling and lead to larger movements than normal. Today sees the release of the CBI Distributive Trade Survey which gives an indication of how retailing activity has faired in August. Get in touch now to speak to our traders so you can plan ahead accordingly.

The euro was initially well supported on Wednesday after the German IFO business climate (survey for German business sentiment) unexpectedly rose in August. Germany are clearly benefitting from a weaker euro as they are an export driven economy. The euro had been under pressure due to risk aversion as Ireland’s sovereign credit rating was downgraded by Standard and Poor. Today sees the release of economic data which should confirm that the pace of contraction in loans to non-financial corporations are continuing to ease. Call in now for a live exchange rate.

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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  Continue Reading…

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