Euro to Pound Exchange Rate News - Sterling Steady As Euro Crisis Continues

Modified: Thursday, 17 November 2011 11:56 BST - Written by John Cameron

STORY LINK Euro to Pound Exchange Rate News - Sterling Steady As Euro Crisis Continues

The Euro Pound exchange rate (EUR GBP) is trading at 0.85478, down 0.09%. The Pound Euro exchange rate (GBP EUR) is trading at 1.16962, up 0.09% . The Pound Dollar exchange rate (GBP USD) is trading at 1.57538, up 0.3%. The Pound Australian Dollar exchange rate (GBP AUD) is trading at 1.56635, up 0.24%. The Pound New Zealand Dollar exchange rate (GBP NZD) is trading at 2.06283, up 0.24%. The Pound Dirham exchange rate (GBP AED) is trading at 1.57546, up 0.3%.

Unexpected UK retail sales growth figures released this morining show a rise of 0.6% last month. However, Sterling likely to continue to suffer with the BoE comments on Uk growth risk and the new data showing UK consumer confidence fell to a record low in October.

Borrowing figures out today show Spain has hit an all time high with its cost of borrowing now set at 6.795%. This figure is just short of the 7% figure that previous eurozone countries have
sought bailouts.
France, the second largest economy in the eurozone, show signs of contagion, with their cost of borrowing up to 3.65%. French banks lent heavily to Spain and so means they have exposure to
anyt failure of the banking systems.
Greece cost of borrowing is now at a crippling 31.75%

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