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Posted May 27th, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 27th May 2010

EUR/GBP – 1.179

Sterling had a strong day against the euro yesterday as investors sold the single currency on concerns that Europe’s debt problems were far worse than the UK. The pound rose 1% to hit a 2 week high of 1.1808/ £1 in afternoon trading. With the UK election out of the way, the debt risk in the UK still saw the pound suffer against the US dollar but the pound is a far superior option for investors than the single currency. Expectations for growth were boosted earlier in the week when 1st Quarter GDP showed an increase on the initial estimate but mortgage data released yesterday showed that the number of new mortgage approvals fell slightly on the month. Overall though, the number of mortgages approved rose 15.5% for the year and net lending increased by £1.825bn. Out today we have sales data for the UK which is expected to come in at around the same level as last month. Get in touch now for a live price to ensure you take advantage at the right time.

In the Euro zone, the single currency suffered from another round of poor sentiment as investors continued to sell the euro on concerns over sovereign debt. The single currency hovered very close to the 4 year low of $1.2143/ 1 after falling 1.5% against the US dollar. The drop was in part fuelled by the news that China is evaluating its euro bond holdings as it is increasingly worried about the deficit in certain European countries. If China does offload euro holdings, this would presumably be to buy US dollars and we could see the euro plummet further. The markets will be watching this very closely over the coming weeks and months. Get in touch now for a live exchange rate.

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Posted May 26th, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 26th May 2010EUR/GBP – 1.168 Sterling fell by 1% yesterday against the US dollar as investors continued to suffer from risk aversion. At one point the pound hit $1.4250/ £1 but recovered slightly towards the end of the day. Sterling performed well against the euro, breaching 1.17/ £1 before falling  Continue Reading…

Posted May 25th, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 25th May 2010 EUR/GBP – 1.167 Sterling gained over 1% against the euro yesterday and fell against the US dollar. The pound hit a high of 1.1646/ £1 and fell to a daily low of $1.4353/ £1 before pulling back ground towards $1.4430/ £1. The strength against the euro was  Continue Reading…

Posted May 20th, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 20th May 2010 EUR/GBP – 1.158 The new Chancellor of the Exchequer made his first speech yesterday outlining some of his thoughts on how to encourage businesses to the UK rather than driving them away. Key in this was a reduction in corporation tax. All makes sense because without a  Continue Reading…

Posted May 19th, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 19th May 2010 EUR/GBP – 1.174 So the UK parliament met for the first time yesterday following the general election. Some people were sitting next to people they probably thought they would never sit next to ever in Parliament [e.g. David Cameron and Nick Clegg]. But we are in a  Continue Reading…

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