Forex Blog

June 29, 2010

Pound Continues to Gain on Euro

The pound climbed to a 19-month high against the euro yesterday as nervous investor’s anxiously eye a deadline later this week requiring many European banks to repay loans taken out a year ago. The pound rose almost half a cent to 1.2327 euros, its highest level since the immediate aftermath of the financial crisis in November 2008.

“Markets are tense going into the end of the long-term refinancing programme, along with [Wednesday's] three-month auction,” said John Hydeskov, senior currency analyst at Danske.

Source: BBC News

No Comments

No comments yet.

RSS feed for comments on this post.

Sorry, the comment form is closed at this time.

Powered by Efacilitators Hosting