EUR VS GBP

7:29 PM EUR / GBP pair is trading near 19-month low 0 Comments

During today's trading the euro against the pound has weakened the position of: a pair slipped to a level 19-month low. This was probably due to the fact that the market rumors that Spain will become the next country, which would require financial assistance.
In early European trading EUR / GBP pair touched 0.8210 marks - the lowest since September 2010, losing 0.45%. As a support and resistance in the medium term are considered .8148 (a minimum of 24 August 2010) and 0.8246 (session high).
Previously, the cost of insuring debt against default Spain reached historic highs, against which the yield on 10-year Spanish bonds exceeded 6%. This, in turn, led to increased concerns about the ability of the country to achieve its goals to reduce the deficit.
It seems that on the eve of the Spanish debt auction, which will be put up for sale 2 - and 10-year bond, investors will continue to be cautious.
Meanwhile, the pound has provided support to statistics from the UK indicated to accelerate the rate of recovery of the British economy, which led to the extinction of the rumors of additional quantitative easing measures the Bank of England. In addition, interest in the pound supported news from Standard & Poor's. As it became known, well-known rating agency confirmed the country's credit rating at 'AAA'.
The pound, meanwhile, has weakened the position against the dollar: GBP / USD pair has lost 0.07%, approaching the 1.5836 mark.
In the U.S., meanwhile, are preparing to enter data on changes in the level of manufacturing activity in New York. In addition, today will be published the statistics on retail sales data and inventory. In addition, today the planned release of data on the volume of net purchases of long-term U.S. securities by foreign investors.