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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 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 16th, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 16th August 2010 EUR/GBP – 1.216 It was an interesting week last week for sterling after the Bank of England’s quarterly inflation report gave a downbeat assessment of the UK’s prospects over the next two years. After a lot of positive sentiment following the new coalition government and the emergency  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 4th, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 4th August 2010 EUR/GBP – 1.207 Sterling hit a new 6 month high against the US dollar yesterday after improved sentiment towards the UK and concerns over the state of the US recovery. The pound hit $1.5968/£1 at lunchtime yesterday, buoyed by robust bank earnings data and recent strong UK  Continue Reading…

Posted July 30th, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 30th July 2010 EUR/GBP – 1.198 Sterling hit a further 5 month high of $1.5660/£1 yesterday on speculation over month end ‘rebalancing’ after strong performances on the US stock market. Strong earnings from many US firms over the last week has left many analysts expecting investors to sell their US  Continue Reading…

Posted July 29th, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 29th July 2010 EUR/GBP – 1.198 Sterling breached the $1.56/ £1 barrier as investors ignored downbeat comments from the Bank of England Monetary Policy Committee after a run of better than expected UK data. The pound continued to ride the wave of strong GDP and better than expected retail sales  Continue Reading…

Posted July 28th, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 28th July 2010 EUR/GBP – 1.197 Sterling continued to strengthen to a 5 month high against the US dollar after better than expected retail sales data boosted the pound further off the back of last week’s strong GDP data. Sterling hit a high of $1.5570/£1 as better than expected bank  Continue Reading…

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