Sitemap Tools

Foreign Currency Exchange

Opinion Polls

Will Brown dump the Pound in favour of the Euro?

	Yes
	No Never!

GBP-EUR Euro depreciation against Sterling

Tuesday, 16 September 2008

The Euro has depreciated against Sterling due to the European commission cutting their GDP growth target for 2008 from 1.7% to 1.3%. They have also raised the Euro zone inflation estimate for this year to 3.6% from 3.1%. Many believe the recent emphasis on inflation is purely to deter the market pricing in rate cuts. Although is now strongly believed that the euro zone will slip into a technical recession (negative growth for 2 consecutive quarters) in the third quarter, reinforcing the belief that the ECB will cut rates before the end of the year.

Last Thursday the BoE MPC member David Blanchflower told the UK treasury committee that a deeper than forecasted decline in the UK economy and a sharp rise in unemployment is very likely. Meanwhile, BoE governor Mervyn King acknowledged slowing growth, but played down the likelihood of an early rate cut.

The outlook for both the Euro zone and the UK is looking bleak and the GBP/EUR cross will be very hard to predict in the long term however in the short term the cross to remain between 1.21 and 1.27, although the Pound may be steering the cross more toward the downside.

» No Comments

There are no comments up to now.

» Post Comment

Only registered users can write a comment.
Please login or register.

< Prev		Next >

Currency Updates Direct

Get EMYC weekly updates direct to your email, Your email address will never be shared by EMYC with third parties

Latest Currency News

Foreign Currency Forum

Link Directory

News

Our Services

Get a Foreign Currency Specialist to contact you.

Get an instant quote straight away with no hassle, find out the best rate we can get you.

Welcome to Exchange My Currency the website that makes it easy to exchange your foreign currency. Get better foreign currency exchange rates than the banks can offer, click for an EMYC FREE currency quote and save money now and get an account manager to contact you.

If your searching for a foreign currency exchange company that can get you the best deals you have come to the right place! Choose between the very best.

Register now and discuss your experience about foreign currency exchange companies you have dealt with in the past and other market information you think might be useful to other users on our forums.

Get your latest foreign currency news here!

Our Foreign currency providers can offer: Specialists in Foreign Currency Transactions, A stress free Personal Service, Free account opening with no obligation, Same day transfers, Guaranteed commercial rates of exchange for now and up to 2 years into the future, Dedicated Account Managers, Highly focused brokerage, Secure competitive currency rates for overseas, Fully compliant with Customs and Excise, No automated call answering!, Competitive commercial rates of exchange, Free currency quotes!

Click INSTANT QUOTE and get a foreign currency specialist to contact you.

ECB Exchange rate

ECB Exchange Rates Currency EUR 2009-01-05
	USD	1.3866
	JPY	126.64
	BGN	1.9558
	CZK	26.825
	DKK	7.4499
	EEK	15.6466
	GBP	0.96100
	HUF	265.48
	LTL	3.4528
	LVL	0.7083
	PLN	4.1638
	RON	4.0350
	SEK	10.8425
	SKK	10.8425
	CHF	1.4874
	ISK	1.4874
	NOK	9.6950
	HRK	7.3346
	RUB	40.7819
	TRY	2.1380
	AUD	1.9884
	BRL	3.2456
	CAD	1.6942
	CNY	9.4608
	HKD	10.7472
	IDR	15391.26
	KRW	1833.09
	MXN	19.1718
	MYR	4.8080
	NZD	2.3969
	PHP	65.310
	SGD	2.0265
	THB	48.212
	ZAR	13.0618
		13.0618

Currency Feeds