Pound Advances Further Versus Euro on Inflation
The British currency had a favorable performance today versus multiple
After inflation surpassed analysts estimates and Bank of England’s target today, the pound gained considerably versus most of the main traded currencies, specially versus the euro, as Greece’s budget deficit is still affecting the currency’s outlook, and ths Swiss franc, which had a rally halted as fears of interventions from the nation’s central bank emerged.
EUR/GBP slid to 0.8727 as of 23:41 GMT from a previous rate of 0.8785 yesterday.
If you have any questions, comments or opinions regarding the Great Britain Pound, feel free to post them using the commentary form below.
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Earlier News About the Great Britain Pound:
- Pound Climbs on House Prices, Optimism (2010-01-18)
- Pound May Climb On Asset Purchase Program Ending (2010-01-18)
- Pound Strong Versus Dollar on Global Recovery (2010-01-12)
- Pound to Decline Versus Higher-Yielding Currencies on Weak Recovery (2010-01-11)
- Unchanged Rates and Bond Purchases Maintain Pound Down (2010-01-08)
2 Comments
the latest strength shown from the pound against the euro is long overdue and will continue…..unacceptable comments from the BOE and other doom commentors have created a battle ground between the 2 currencies for over 12-18 months.today the 20th of January 2010 is a turning point gradually building slowly since holding good ground and defying against parity with the euro……I believe the pound will reach 125 against the euro by June /July 2010 and is long overdue.The pound has been terribly undervalued for too long and now with the UK still able to control things without any intervention from europe it will return to levels far more acceptable……it is hard times for the UK but even harder times for euroland……I would appreciate comments to my views….Graham GOuld
i agree to you mainly with ur last words…. about hard times for the UK and the euroland, i think the EUR/GBP will be having a good dispute, and the winner will be the one with less economic problems… in one hand the U.K. is still in a very delicate situation, but the recession has lasted for too long and so it may be its turn to recover as for the euroland… its country members have too different profiles, it will be essential to see whether countries like Germany and Netherlands can cope with the burden of having the same financial system with its poorer euro members such as Greece, Portugal, Italy…. in my personal opinion id avoid investments in both the U.K. and the Eurozone for the moment.