EUR/GBP Rate & Comments for 20th April 2010

EUR/GBP - 1.140

Sterling fell by 0.6% against the US dollar yesterday reaching a low of $1.5194/ £1 – the lowest since April 8th. The pound’s fall was further fallout from last week’s first televised election debate. The markets were yet again left reeling by the prospect of a hung parliament as a YouGov poll for the Sun and a BPIX survey for the Mail on Sunday put the Liberal Democrats in front in the run up to the election. Given the ‘first past the post’ electoral system, this result would see a hung parliament. Investors are moving to the safer US currency as uncertainty surrounds the result. There are 2 further televised debates in the next two weeks and these are likely to have similar effects on volatility. Out today, we have consumer and retail price inflation data for the UK – call in today for a price to ensure you don’t miss out.

In the Euro zone, the euro strengthened by 0.2% against the pound ending the day at 1.1350/ £1. There was no real data out yesterday, and as a result, the euro stayed in a relatively tight range against the pound and US dollar. Out today, there is sentiment data for the euro zone which is expected to show a marginal improvement following the recent announcement of a bail out for Greece. In addition, we have producer price inflation for Germany. Get in touch now for a price to avoid volatility adversely impacting your payment.

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