Range of the week: 1.2570 to 1.2647
Variance of the week on £10k=€77
Major news or data for the week so far:
It’s been a pretty quiet week so far as illustrated by the very small variance on £10k and also because of the fact that London markets were closed on Monday because of the bank holiday. There are hopes that the ECB will embark on a bond buying programme to manage the debt crisis & the ECB president, Mario Draghi, cancelled his appearance at the Jackson Hole economic symposium to concentrate on next week’s policy making meeting. This has helped the Euro strengthen a little & hence why Sterling dropped to a three week low against the Euro yesterday.
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