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#CINews Episode 209: Euro Spiked Significantly Overnight

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Having seen the euro spike significantly overnight, the pound found itself at the very bottom of the technical range as trade started on Friday. to close the month, we only had UK GDP of significance to come, released at 9.30am. Fortunately for the ailing pound, this came out slightly better than forecasts at 0.2 percent growth, opposed to 0.1 percent. Not much better but it spurred the pound on to make small gains against the euro and the US dollar, as well as against other major currencies. Mortgage approvals and money supply figures for the UK also post higher than expected, but gains were limited as EU and US inflation figures came out at or above expectations respectfully. June was a muted month for sterling, as talk of interest rate hikes came and went and came again with the unexpected extra vote for a hike by the MPC. The gains were short-lived, showing if we see a spike, its normally best to take advantage rather than holding out for more, as that can be costly. Full Report: https://www.currencyindex.co.uk/euro-spiked-significantly-overnight/ For the latest money transfer news you can also: - Find us on Facebook: http://facebook.com/CurrencyIndex - Follow us on Twitter: http://twitter.com/CurrencyIndex - Subscribe to us on this YouTube channel: http://goo.gl/IkXhuI
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