Euro (€) Currency Thread

waynehayes

Doing nicely at 1.1645

Eager_Saver

1.16473 now, will we see 1.17 today :j

inspector_monkfish

still hanging around at 1.1640

ECB & GBP rate announcement tomorrow
possible mention from ECB of some hefty quantitiative easing - that could move the rate in GBP favour...

inspector_monkfish

09:31 03Jun09 BRITAIN'S FTSE 100 PARES LOSSES, DOWN 1.5 PCT AFTER UK SERVICES PMI DATA
09:31 03Jun09 STERLING RISES VS DOLLAR TO $1.6647 VS $1.6604 AFTER UK SERVICES PMI DATA
09:33 03Jun09 EURO HITS 6-MONTH LOW VS STERLING OF 85.76 PENCE AFTER UK SERVICES PMI

09:49 03Jun09 Euro falls to 6-mth low vs sterling after UK PMI data

LONDON, June 3 - The euro fell to a six-month low against sterling, while UK stocks trimmed losses on Wednesday after a survey showed UK services sector activity unexpectedly returned to growth in May.

The purchasing managers' index for the sector rose to 51.7 from 48.7, beating analysts' forecasts of 49.2 and taking the index above the 50-mark that denotes growth for the first time since April 2008, according to the Chartered Institute of Purchasing and Supply/Markit survey.

The euro fell to a fresh six-month low versus the UK pound of 85.76 pence down from 85.90 pence just before the data was released.

Against the dollar, sterling briefly rose to around $1.6645 after the data from $1.6604 previously, before turning lower to trade at around $1.6548 at 0949 GMT as the dollar rose broadly.

Britain's FTSE 100 briefly trimmed losses after the data and was down 1.5 percent at 4410.32 by 0832 GMT, before turning lower again to trade down 1.7 percent at 0847 GMT.

waynehayes

Well' the £ has tumbled 2 cents to 1.1461. What caused that?

verona_2

waynehayes wrote: »

Well' the £ has tumbled 2 cents to 1.1461. What caused that?

I was just going to say the same. I wonder if it's anything to do with the fact Gordon Brown my be packing his bags and leaving number 10? Or maybe due to BOE announcement on interest rates at 12.00 today.

waynehayes

I wouldn't have thought either.

bigjoneh

verona wrote: »

I was just going to say the same. I wonder if it's anything to do with the fact Gordon Brown my be packing his bags and leaving number 10? Or maybe due to BOE announcement on interest rates at 12.00 today.

Surely Gordon Brown going could only be good for the Pound.

bigjoneh

1.1533

Moving the right way.

inspector_monkfish

waynehayes wrote: »

Well' the £ has tumbled 2 cents to 1.1461. What caused that?

been reading a few things and it seems it was a combination of profit taking and 'UK political concerns'

back up this morning after Halifax reveal better than exopected house price data

trading at 1.1550 at mom