Currency Exchange Report - euro up against the dollar and pound sterling over euro crisis

Modified: Thursday, 27 October 2011 14:22 BST - Written by John Cameron

STORY LINK Currency Exchange Report - euro up against the dollar and pound sterling over euro crisis

The euro was up 1.3% against the dollar and 0.7% against the pound sterling today after the eurozone agreed a deal.

The deal reached pushed the bailout fund to a 1 trillion Euros and gets the banks to take losses on Greek debt in exchange for recapitalisation.

On news of the new deal, the euro rallied leaving the GBP EUR, GBP USD down.

The euro crisis news also saw share prices rise for those that were most exposed to the Greek debt, along with banks such as Barclays gaining significant share price.

The German Chancellor Angela Merkel told reporters that "the world’s attention was on these talks. We Europeans showed tonight that we reached the right conclusions."

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