Currency Rates

EURO/GBP - 1.139

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Sterling strengthened against the euro yesterday and breached the 1.14/ £1 barrier as the pound rose by 0.7% as a new opinion poll showed that the conservatives would win an overall majority. This negated the relatively poor consumer confidence survey by the Nationwide that showed that concerns over the election had caused confidence in the UK to suffer. The pound stayed relatively steady against the US dollar. However, in early trading this morning the pound suffered as last night’s first election debate sent shockwaves through the markets as fresh concerns over a hung parliament were raised by Nick Clegg’s strong performance for the Liberal Democrats. This raised fresh concerns that neither Labour nor the Conservatives would win a clear majority. There is no data out today so expect the pound to continue to trade on sentiment. Get in touch now for a quote.

In the Euro zone, there is a relatively busy day on the calendar. Euro zone consumer inflation is expected to show stay at 1.5% and core consumer inflation is expected to improve marginally. In addition, the Euro zone trade balance is expected to narrow by around 2bn. There is likely to be a large amount of movement today off the back of the UK election debate. Call in now to avoid missing out.

Call in now for a price. Have a great weekend!Call 0808 163 0102 or +44 (0) 207 898 0541 from outside the UKor fill out our quote form: http://www.smartcurrencyexchange.com/quote.aspx