UK Pound Mixed Today

  June 14th, 2012 at 13:53, Miranda Marquit

Great Britain pound symbolUK pound is mixed today, gaining against the US dollar, but pulling back against the euro. Risk appetite is making a cautious appearance in the currency markets, even with trouble in the eurozone. Indeed, pound’s fall against the euro is a bit of a surprise after the British currency’s recent gains.

Earlier, the UK pound logged gains against the euro, as Fitch warned again that AAA countries in the eurozone could be facing a downgrade. With concerns about Italian borrowing costs (which are on the rise), and trepidation over the upcoming Greek elections, some had expected the euro to remain lower a little bit longer. However, the pound can’t seem to maintain its gains against the euro. Against the US dollar, though, sterling is seeing some solid gains on a modest amount of risk appetite.

Questions about the UK economy are being asked as well, though. Britain has been unable to kickstart its economy through a combination of austerity and quantitative easing. The program hasn’t been expanded recently, but members of the Bank of England have been walking a fine line between keeping a lid on inflation and trying to stimulate the economy. More confusion about the pound is likely to result in the future.

At 13:50 GMT EUR/GBP is up to 0.8102 from the open at 0.8098. GBP/USD is up to 1.5534 from the open at 1.5505.

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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