Sterling hits 3 ½ year high against Euro

Published on in Foreign Exchange News by

Sterling hit a 3 ½ year high against a struggling Euro on Friday after poor US employment figures stoked worries of a global slowdown.

Investors concerned about the Euro debt crisis were prompted to cut their exposure in the single currency after data in the US showed 80,000 jobs were added in June. Market participants, who expected a gain of 100,000, were left disappointed but piled their money into the safe haven USD. Which, in turn, saw the pound stumble against the dollar losing 0.7% on the day.

Support for the Euro is expected at the current levels, as the market looks for comments from this afternoon’s Eurogroup meeting, where more details are expected to emerge from last months EU summit agreements.

No major economic data due for release today.

Main Currency Pairs * Friday Today
GBP/EUR 1.25430 1.26010
GBP/USD 1.55370 1.54730
GBP/CAD 1.57730 1.57930
GBP/NZD 1.93490 1.94980
GBP/AUD 1.51320 1.52330
GBP/AED 5.70570 5.68340
EUR/USD 1.23860 1.22720
GBP/CHF 1.50450 1.51390
GBP/ZAR 12.6298 12.8345
GBP/SEK 10.7937 10.8836
GBP/JPY 124.173 123.200
GBP/PLN 5.26800 5.34590
USD/PLN 3.38480 3.45520
EUR/PLN 4.20600 4.21390
EUR/CHF 1.20120 1.20110
GBP/MAD 13.7956 13.8077
PLN/EUR 0.23780 0.23730
GBP/CZK 31.8850 32.2662
GBP/DKK 9.31450 9.34250
GBP/HKD 12.0691 12.0487
GBP/HUF 358.154 361.080
GBP/NOK 9.36370 9.44010
GBP/INR 85.5261 86.2649
GBP/THB 49.0882 49.1375

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